Compensation payouts on around 14 million unfair motor finance deals could start next year. Photo: PA
Bank of Ireland could face a bill of €267m to compensate motor-finance customers in Britain who were treated unfairly between 2007 and 2024.
A new report by Britain’s Financial Conduct Authority (FCA) has calculated that the total compensation bill for the banking industry will be £8.2bn (€9.47bn), while the administration costs will add £2.8bn, bringing the total cost to £11bn.
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