Lenders’ routine purging after six years means details of some car buyers due compensation may have been lost
Consumers are at risk of losing £1bn of compensation over inflated car loans because high street banks and specialist lenders deleted their data, claims lawyers have warned.
Borrowers, banks and the government are anxiously awaiting a ruling from the supreme court that could spark one of the biggest redress schemes since the £50bn payment protection insurance (PPI) saga.
Lenders’ routine purging after six years means details of some car buyers due compensation may have been lostConsumers are at risk of losing £1bn of compensation over inflated car loans because high street banks and specialist lenders deleted their data, claims lawyers have warned.Borrowers, banks and the government are anxiously awaiting a ruling from the supreme court that could spark one of the biggest redress schemes since the £50bn payment protection insurance (PPI) saga. Continue reading… Motor finance, Automotive industry, UK news, Banks and building societies, Financial Conduct Authority, Financial sector, Borrowing & debt Business | The Guardian
