The car finance scandal proves that the financial sector still has trust issues that need to be sorted
- Written by Alper Kara, Head of Department of Economics, Finance & Accounting, Brunel University of London
The car finance scandal could have ended up costing UK banks and lenders up to £44 billion in compensation payments. But after the latest court ruling, the expected bill has been reduced to less than £18 billion.
That still counts as an expensive loss of course. And it may or may not be enough to compensate the millions of motorists...