A fight over UK motor finance and whether lenders should be on the hook for billions of pounds in compensation will play out at the Supreme Court in one of the most highly-anticipated hearings in years.
At stake, the scope of a huge compensation program for consumers who took loans to buy cars without knowing about the commission paid by lenders to dealers. Banks are bracing for a payout that could run as high as £38 billion ($49.1 billion) according to some estimates, if the top court’s judges rule against them. Investors are taking note.
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