2 h. ago Up to 14m car loan scandal victims in line for average £700 payout, City regulator announces

City regulator unveils compensation scheme for motorists who bought cars via discretionary commission deals from 2007 to 2024Victims of the UK’s car finance scandal are likely to receive compensation payouts averaging £700 resulting from 14m unfair loans, the City regulator said on Tuesday.The payouts would be less than previously expected, but the Financial Conduct Authority (FCA) said lenders could be landed with an £8.2bn compensation bill, which could go as high as £9.7bn. Continue reading...

Economics

3 h. ago Millions of motorists to be paid compensation over car finance scandal

Compensation for unfair motor finance deals will be paid out at around £700 each, the Financial Conduct Authority has said

Economics

3 h. ago Car finance compensation figure finally revealed as millions of drivers set for payout

Drivers who took out personal contract purchase (PCP) or hire purchase agreements before between April 6 2007 and November 1 2024 where commotion was payable by the lender to the broker will be paid

Economics

4 h. ago Millions will get £700 payouts from car finance scandal, as FCA reveals compensation details

The financial watchdog has revealed details of its car finance compensation scheme that could see £8.2billion paid back to motorists.

Economics

10 h. ago FCA set to announce new car finance compensation plan for millions of drivers

The regulator will set out plans for a redress scheme with payouts of around £950 on October 7.

Economics

18 h. ago Drivers to receive car finance compensation update from the FCA today

The Financial Conduct Authority is expected to release details of the long-awaited car finance compensation scheme

Transport

30 h. ago Major car finance compensation update due tomorrow for millions of drivers

The Financial Conduct Authority is set to unveil a consultation on a scheme to compensate an estimated 14 million drivers who paid over-the-odds for car finance. - how it might work

Economics

2 w. ago BMW: car finance compensation for drivers as manufacturer sets aside £200m for loan scandal payout claims

Millions of motorists could soon pocket refunds 💷

Economics

2 w. ago Drivers told to make one check now as they may eligible for payout

The Supreme Court has ruled on a long-running dispute over car finance, with millions of drivers potentially in line for compensation. They've been urged to make a simple check

Politics

3 w. ago UK watchdog issues new car finance update on possible £1,100 compensation payout due next year

The FCA has launched a £1 million car finance campaign to warn people of unnecessary fees.

Economics

4 w. ago Up to 30 million drivers could be due car finance compensation as update issued

The boss of the financial watchdog today issued an update on when car finance payouts could begin, and how many drivers could potentially be eligible

Economics

4 w. ago Car finance deal compensation could start next year, says FCA boss

Nikhil Rathi, chief executive of the Financial Conduct Authority, said he hopes that most payouts to drivers will be made during 2026.

Economics

4 w. ago Up to 30 million car finance deals eligible for compensation, says FCA boss

Nikhil Rathi, chief executive of the Financial Conduct Authority, said he hopes that most payouts to drivers will be made during 2026.

Economics

4 w. ago Car finance update as FCA issues clarification on compensation payments for millions

The boss of the FCA said it is hoped the first compensation payments will be made next year

Economics