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UK FCA warns car-finance claimants against using CMCs or law firms

( September 12, 2025, 16:00 GMT | Official Statement) -- MLex Summary: The UK Financial Conduct Authority has launched a £1 million advertising campaign, warning those seeking car-finance compensation against using a Claims Management Company or a law firm to submit their claim. Using a CMC or a law firm could cost the claimant around 30 percent of any compensation paid, the FCA said. The warning comes as a survey from the watchdog found that 41 percent of customers who were aware they might be owed compensation didn’t know they had choices besides CMCs or law firms if a redress scheme were introduced. A potential redress scheme will be consulted on in October.Statement follows....

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