Santander agrees to pay compensation on mis-sold car loans

Santander agrees redress scheme giving motorists payous of around £827

Around 12 million mis-sold deals are part of the scheme

Santander news: Major high street bank to pay thousands of customers £829 in compensation over mis-sold car loans

Santander has announced that it will not mount a legal challenge against the Financial Conduct Authority's car finance mis-selling compensation programme.The high street bank is instead concentrating its efforts on delivering payments to affected customers."We have decided not to challenge the schemes and will now focus on their implementation," a Santander spokesman said.The lender acknowledged the decision was carefully weighed, with the prior…

Santander won't challenge car finance ruling, date money will reach accounts

Motorists who were mis-sold car finance deals may be eligible for compensation after Santander confirmed it would not challenge the FCA's redress scheme

Mis-sold car finance scandal lender agrees to start paying out

The FCA expects the total amount of redress paid under its scheme to be about £7.5 billion, with millions of claims expected to be paid out this year.

Santander agrees to pay compensation on mis-sold car loans

Payouts are due on about 12.1 million mis-sold deals from various lenders at an average of £829 each, the Financial Conduct Authority said.

Breakthrough as car loan scandal lender says 'we won't challenge'

The FCA expects the total amount of redress paid under its scheme to be about £7.5 billion, with millions of claims expected to be paid out this year