Which? responds as FCA says its likely to consult on motor finance redress if widespread failings found

Jenny Ross, Editor of Which? Money, said:

"The impact of a car finance redress scheme could be huge, with potential for billions of pounds to be paid out to affected consumers.

"While much still rests on the Supreme Court decision, a redress scheme would remove the need for consumers to make a direct complaint to providers. This could greatly simplify the process and reduce the need for claims management firms to be involved, increasing the chances of motorists getting 100% of any payout that may be awarded."

-ENDS-

Notes to editors:

Car finance mis-selling investigation: what you need to know