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The UK's financial watchdog has stated that the issue of car finance mis-selling is not anticipated to escalate to the levels of the previous Payment Protection Insurance (PPI) scandal. Despite this assertion, there are analyst estimates suggesting potential fines and compensation could exceed £10B+. The comments from the watchdog and analysts come as the car finance probe is set to potentially result in payouts for millions of individuals.
In 2007, Gary took some routine advice from his accountant. Over a decade later a letter arrived asking for more than £300,000. This is his story: https://t.co/L9M7hZUuIM
Car finance probe boss breaks silence ahead of payouts for millions https://t.co/anJOx1lTlS
#FCA CEO - car finance mis-selling is not the next PPI scandal: https://t.co/gu9ebAwuJW Then again, analyst estimates of a pot'l £10B+ in fines & compensation are nothing to sneeze at, if they prove even remotely accurate...
