UK watchdog aims to make any mis-sold car loans compensation easy for claimants
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 05 2025
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Source: Reuters
FCA's Stance on Compensation: The Financial Conduct Authority (FCA) aims to avoid claims management companies in any compensation scheme for mis-sold car loans, as it anticipates a Supreme Court ruling that could lead to significant compensation for affected customers.
Potential Impact on Banks: Analysts warn that the fallout from this issue could be extremely costly for banks, reminiscent of the previous PPI scandal, with banks already setting aside over £1.5 billion for potential claims.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
