Drivers who had car finance agreements before 2021 could be owed money if an official investigation finds they were charged too much for their car loans because of hidden commission arrangements. The Financial Conduct Authority has launched a probe into ‘discretionary commission arrangements’ – but what does that mean for motorists, who is affected by the probe and who could get compensation? What is the FCA investigating? In January 2021, regulator the FCA banned something known as ‘discretionary commission arrangements’. This put a stop to lenders allowing car dealers – or brokers – to incre…
