Lenders on the hook for redress scheme as motorists in line to receive £950 each

‘This decision could have ramifications across the economy,’ Martin Lewis has warned

Lenders have avoided potentially having to pay compensation to millions of drivers after a long-awaited Supreme Court ruling

An important court ruling has scuppered chances of a payout for millions of drivers, calling the case for redress into question

Money expert says an automatic redress scheme could be introduced by the end of the year

The Supreme Court ruled that hidden commissions from lenders to dealers on car loans were not unlawful

Lenders on the hook for redress scheme as motorists in line to receive £950 each

The financial services regulator will consult on a redress scheme for motorists following a court ruling, though many drivers will be ineligible.