Ms Reeves has been warned over intervening and interfering over payouts to road users hit by the car finance scandal.
An urgent warning issued to Rachel Reeves over payments owed to drivers. Labour Party government Chancellor Ms Reeves has been warned over intervening and interfering over payouts to road users hit by the car finance scandal.
Ms Reeves is considering overruling the supreme court over a £44bn car loan commission scandal after lobbying by some of the UK’s biggest lenders.
Darren Smith, Managing Director at Courmacs Legal, said: “It is outrageous and an affront to the rule of law that the Treasury is even considering giving motor finance giants a free pass at the expense of millions of hard-working consumers.
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The legal expert added: “Why is the Government even considering limiting or reducing the redress car finance victims would receive at court? The billions owed to victims would undoubtedly help generate economic growth just as in the PPI scandal. Doing right by consumers is also good for the UK economy.
“If our highest courts determine consumers have been wronged by lenders, it would be unconscionable for the Government to send Labour MPs into the division lobbies and make them vote to limit the liabilities of big banks at the expense of their constituents.
“This is something which I, and many of my colleagues in the legal profession feel strongly about.”
BBC and ITV star Martin Lewis warned on Friday: “News. CAR FINANCE SUPREME COURT RULING TO COME 4:35PM FRI 1 AUG. This decision could have ramifications across the economy, far beyond car finance.
“I suspect that’s why the Supreme Court has announced its working on it til the last possible minute (that and doing it once markets close) to get this out before its ‘term closes’. So I want to speedily to bash out a rough explanation of what’s happening.
“There are TWO types of Car Finance mis-selling cases and while the Supreme Court is only looking at one, both are on hold until the judgement is handed down.”
He said: “As for what to do now… wait until the result.”