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.

Continue reading…Motor finance, Automotive industry, UK news, Banks and building societies, Financial Conduct Authority, Financial sector, Borrowing & debtRead More

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