If compensation is awarded to those affected, it is thought this could be as big as the mis-selling of PPI, as ITV News' George Hancorn explains
It follows the Financial Conduct Authority , the UK's financial watchdog, investigation into claims some consumers had been unfairly charged inflated prices on new and second hand cars bought on finance.Before January 2021, some lenders allowed brokers to adjust the interest rates they offered customers for car finance.
The regulator has said there have been a high number of complaints about how much customers were charged before the ban.If compensation is paid out, it's thought this could be as big as the mis-selling of PPI.Money Saving Expert's Martin Lewis has since issued advice for those who could be impacted, calling on them to make a complaint.