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UK's FCA prepares industry-wide compensation for car finance mis-selling, potentially aiding millions.
The UK's Financial Conduct Authority (FCA) is preparing for a potential industry-wide compensation scheme for car finance mis-selling.
If approved, lenders will proactively contact affected borrowers to offer compensation, without the need for individual complaints.
The scheme covers two main issues: Discretionary Commission Arrangements (DCAs) and Commission Disclosure complaints.
The Supreme Court's decision in early April will determine the scope of the compensation, potentially benefiting millions of car buyers and costing billions.
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La FCA del Reino Unido prepara una compensación a nivel de toda la industria para la financiación de vehículos mal vendidos, ayudando potencialmente a millones.