The Financial Conduct Authority's redress scheme related to the miss-selling of car finance may not be the hoped for silver bullet to contain the compensation claims; a number of legal claims firms are organising collective cases outside the scheme, leaving banks likely on a much larger hook for payouts.
This looks like a financial upheaval that will run & run; the claims firms are likely to be a lot more aggressive in their clams that the redress scheme would allow!
#FinancialServices
h/t FT







