Motor Finance Update31 Mar 2026 07:32
The UK's Financial Conduct Authority on Monday confirmed it will proceed with an industry-wide motor finance redress scheme, aiming to compensate millions of customers who were treated unfairly by lenders.
Firms implicated in the scandal are expected to pay out around GBP7.5 billion in compensation, with total costs including administration estimated at GBP9.1 billion. This is lower than earlier projections of up to GBP11 billion.