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UK to compensate up to 14M drivers over undisclosed dealer commissions, with £9B–18B in payouts.
The UK’s Financial Conduct Authority is set to publish details of a proposed car finance compensation scheme affecting up to 14 million motorists, following revelations that some dealers failed to disclose lender commissions.
The plan, backed by a Supreme Court ruling, could lead to payouts of £9 billion to £18 billion, with most individuals receiving less than £950.
Regulators are also cracking down on misleading claims by law firms and claims management companies, with over 740 deceptive ads removed since January 2024 and a £1 million public campaign urging consumers to claim without using third parties to avoid losing payouts.
Reino Unido para compensar a hasta 14 millones de conductores por comisiones de concesionarios no reveladas, con £9B18B en pagos.