The UK's Supreme Court will announce a long-awaited ruling on car finance commissions on Friday that could influence whether major banks face a multibillion-pound compensation bill. British lender Close Brothers and South Africa's FirstRand want to overturn a landmark Court of Appeal judgment,

Britain's highest court will Friday determine whether controversial car loans were unlawful, which could pave the way for millions of motorists to claim billions of pounds in compensation from banks.

British banks and lenders have been spared a huge bill, as the Supreme Court has overturned a ruling that could have meant millions of motorists were due compensation for mis-sold car finance.