After ‘secret’ commissions paid to dealers by lenders were ruled unlawful, billions might be available in compensation
UK lenders are scrambling to assess the fallout of last week’s landmark court of appeal ruling on car finance.
The judgment on “secret” commission payments could have far-reaching implications for lenders, beyond those covered by an continuing investigation by the Financial Conduct Authority (FCA). The consumer champion Martin Lewis suggests the row “has the potential to shake up more than just car finance”.
