UK's FCA will consult on redress scheme for motor finance claims

Sun, 03rd Aug 2025 14:46

LONDON, Aug 3 (Reuters) - Britain's Financial Conduct Authority (FCA) said on Sunday it would consult on a redress scheme for consumers with motor finance claims following a Supreme Court ruling last week.

"At this stage, we think it is unlikely that the cost of any scheme, including administrative costs would be materially lower than 9 billion pounds and it could be materially higher," the FCA said in a statement.