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UK banks face at least GBP9 billion in car-finance claims

By Sofia Gerace and Phoebe Seers ( August 4, 2025, 09:22 GMT | Insight) -- UK banks are set to pay at least 9 billion pounds to compensate car-finance customers who were treated unfairly, the Financial Conduct Authority said yesterday. The FCA will consult in early October for a redress program that will cover discretionary commissions arrangements dating back to 2007. The authority will also consult on which non-discretionary commission arrangements should be included.UK banks are set to pay at least 9 billion pounds ($12 billion) to compensate car-finance customers who were treated unfairly, the financial watchdog said on Sunday (see here)....

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