The Guardian Australia – Business
·business
·5 hours ago
Carmakers scramble to plug £3bn shortfall for UK loan scandal payouts
Carmakers must raise £3 billion to compensate UK consumers mis-sold car loans as part of a £9.1 billion redress scheme set to launch this summer. Manufacturers, including Ford and BMW, have only allocated £803 million, significantly underestimating their liabilities. The Financial Conduct Authority estimates that affected drivers could receive average payouts of £830.
Summary by Glance · The Guardian Australia – Business
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