Thousands of HFC and John Lewis Loan Customers in line for £4million Compensation over Historic Debt Payments

Thousands of HFC and John Lewis finance customers could be in line for a mammoth compensation payout, following an investigation into the way customers were treated after falling into arrears on their debt payments. The Financial Conduct Authority (FCA) announced that HFC Bank Ltd (HFC) and John Lewis Financial Services Limited (JLFS) – both of which are now owned by HSBC Bank – have set up a “redress scheme” for customers who may have paid an unreasonable debt collection charge between 2003 and 2009. The company estimates that around 6,700 accounts may have been affected – and will be contacting those owed money back in due course.