Thousands of motorists who bought cars on finance before 2021 could be set for payouts as the Financial Conduct Authority (FCA) has said it will consult on a compensation scheme.In a statement the FCA said its review of the past use of motor finance "has shown that many firms were not complying with the law or our disclosure rules that were in force when they sold loans to consumers".
"Where consumers have lost out, they should be appropriately compensated in an orderly, consistent and efficient way," the statement continued.
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