Mercedes-Benz Challenges UK Motor Finance Redress Scheme
Mercedes-Benz is challenging the UK's 12.3 billion-dollar motor finance redress scheme. The Financial Conduct Authority is now reviewing its legal approach.
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MERCEDES-BENZ GROUP AG challenged a £9.1 billion ($12.3 billion) consumer redress scheme in the United Kingdom over historic motor loan misselling. The carmaker is the fourth group to contest the Financial Conduct Authority (FCA) compensation plan for 17 years of scandal. Legal challenges threaten to delay average payouts of £830 per vehicle loan agreement originally scheduled to begin this year.
