'You can trust the FCA’s free tools' is the opening line of a hard-hitting TV advertisement taking the City regulator’s campaign against unofficial motor finance redress claims onto the claims farmers’ own turf.
The campaign – running on TV, radio, print, billboards and social media until 6 September – directs redress-seekers to a free template complaint letter on the Financial Conduct Authority website. The TV advertisement can be seen on YouTube here.
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In its latest attempt to promote its own redress scheme against widely-promoted alternatives, the FCA announced its research found that 27% of car finance customers lack confidence to make a complaint without using a claims management company (CMC) or law firm.
Sheree Howard, executive director at the regulator, said: 'Many people who may be owed compensation aren’t sure where to start or don’t realise they don’t have to pay someone to make a complaint. Our free tools are there to help people feel claim confident – so they can get any money owed back without it costing them a penny.'
According to the FCA, 59% of eligible car finance customers have made or are considering a claim – but a significant group (23%) say they are unsure of their options.
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