Lenders have been told by the City watchdog they now have until December 4 next year to respond to borrowers complaining about motor finance deals with hidden commission payments.
The FCA said: “Firms who provide motor finance are likely to receive a high volume of complaints in response to the judgment. The Supreme Court said the banking group could challenge the earlier judgment in the Court of Appeal. On the Supreme Court appeal, the FCA said it planned to apply to “formally intervene in the case to share our expertise to assist the Court”.
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