UK Carmakers Face 3 Billion Shortfall in Motor Finance Scandal Payouts
** The UK’s major car manufacturers are racing to cover a £3 billion shortfall to compensate victims of the motor finance scandal. The industry’s lending arms have significantly underestimated the costs of the £9.1 billion redress scheme designed by the Financial Conduct Authority (FCA). With the deadline for payouts fast approaching, the industry is under pressure to bridge the gap and ensure that those affected by the scandal receive the compensation they are owed.
Read More