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As the ramifications of the court finding in favour of consumers miss-sold car financing ripples though the banking sector we're starting to see how much money might be involved in compensation;
Lloyds have already allowed £450mn in their accounts to cover settlements while Santander have set aside £295mn.
Estimates that the entire compensation could finally be around £30bn nw don't look so off the mark.
A lot of people in banking are hoping the appeal is successful!
ooops sorry, mn - I'll change that right now - thanks for the typo spot
@ChrisMayLA6 I've read the judgment and it is very rigorously explained & persuasive. I don't rate the appellants' chances.
No, I think they're just trying to delay the inevitable....
@ChrisMayLA6 how far back are these car loans?
Is there a date limit?
Thinking about the 00s here..
I'm not sure but I think they will find the practice has been going on for some time... its been driving new car sales for over a decade