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News Source

Ministers urged to close £2bn tax loophole in car finance scandal

Banks and specialist lenders will not pay tax on compensation payouts, sidestepping 2015 rule

6th Dec

The Guardian

FCA car finance scheme “patently influenced” by lender profits, MPs say

The Financial Conduct Authority (FCA) car finance compensation scheme has been “patently been influenced by the profit margins of the lenders”, a report by MPs on the All Party Parliamentary Group (APPG) on Fair Banking has found.

11th Nov

Legal Futures

FCA’s ‘not fit for purpose’ car finance redress scheme comes under fire from MPs

The FCA’s car finance redress scheme is ‘not fit for purpose’ and could ‘short change’ millions of motorists.

4th Nov

Car Dealer

Drivers being robbed of £4bn in ‘insulting’ car loan redress scheme

Victims of the car loans scandal could miss out on more than £4bn in compensation if the City regulator ploughs ahead with plans for an “insulting” interest rate.

4th Nov

Birmingham Live

Car finance scandal compensation scheme is ‘unfit for purpose’ as millions of drivers could lose out

Experts are warning that the proposed car finance compensation scheme is “unfit for purpose” as it protects lenders more than drivers.

3rd Nov

GB News

Motor finance backlash mounts with calls to pull £4bn from lenders

The financial watchdog is back in the hot seat as criticism of its controversial motor finance redress scheme continues to mount.

3rd Nov

City AM