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The car finance scandal payouts: what does ruling mean and how much compensation could you get?

All you need to know about the City regulator’s motor finance redress schemeCar loan scandal victims may get average £700 payout, FCA saysMillions of people are on track to receive payouts averaging £700 after details of a planned compensation scheme for victims of the UK’s car finance scandal were published.That figure is lower than expected, and many lenders’ share prices surged on Wednesday as markets apparently concluded this was a good result for them. Banks appear to be on the hook for significantly less compensation than had originally been indicated. Continue reading...

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