Millions of drivers will find out how they can claim compensation for mis-sold car finance when the financial regulator outlines its final rules on the scheme.
The Financial Conduct Authority (FCA) will publish its final decision late this afternoon, detailing the payout programme for 14 million motor finance agreements.
The long-running multi-billion pound saga, which has included a ruling at the UK's highest court, is likely to result in average compensation of payments of about £700 on a host of deals made between April 2007 and November 2024.
But the regulator's scheme could still face a legal challenge by lenders and claims management companies, further extending the wait for victims.
The payouts relate to commission arrangements between lenders and dealers, unfair contracts and inaccurate information given to car buyers.
