UK FCA motor finance redress scheme delayed

Timeline

1. 3 days ago

   [BUSINESS] 2 sources

   UK FCA launches £2 million campaign to aid motor‑finance customers in claiming compensation

   The UK FCA has spent £2 million on a multi‑media campaign, offering a free complaint template to help motor‑finance borrowers claim compensation after a survey showed many lack confidence.

2. 9 days ago

   [BUSINESS] 2 sources

   UK car finance compensation scheme delayed until 2027

   The FCA’s £9.1 bn car‑finance compensation scheme for 12.1 million UK drivers is delayed until at least 2027 after legal challenges, with motorists urged to file complaints now.

3. 10 days ago

   [BUSINESS] 2 sources

   UK FCA challenges motor finance redress scheme, targets misleading law‑firm ads

   The UK FCA has asked the Upper Tribunal to dismiss a challenge by Courmacs Legal and Consumer Voice over the motor‑finance redress scheme, alleging hidden motives, while also uncovering 170 misleading law‑firm‑

4. 28 days ago

   [BUSINESS] 5 sources

   UK FCA delays £7.5bn motor finance compensation scheme after legal challenges

   The UK FCA has partially suspended its £7.5bn motor‑finance compensation scheme after legal challenges from Consumer Voice and three lenders, pushing expected payouts to 2027.

5. about 1 month ago

   [BUSINESS] 3 sources

   UK FCA warns motor‑finance firms over £9bn redress scheme readiness

   The UK FCA has warned over 100 motor‑finance lenders that many are ill‑prepared for a £9 bn redress scheme, urging better systems and noting average payouts of £830 per claimant.

6. about 2 months ago

   [BUSINESS] 2 sources

   UK FCA expands contactless payment limits and cracks down on misleading car‑finance ads

   The FCA lets banks set up to £100 contactless limits and cautions firms against misleading ads for a £829 car‑finance compensation scheme affecting millions of UK motorists.

7. 2 months ago

   [BUSINESS] 4 sources

   UK FCA car‑finance redress scheme leaves 1.1 million low‑value loans out

   UK's FCA car‑finance redress scheme will pay £830 on average but excludes 1.1 million low‑value loans, sparking a consumer challenge and lawsuits from Volkswagen, Mercedes‑Benz and Credit Agricole.

8. 2 months ago

   [CRIME] 4 sources

   UK FCA warns young drivers of ghost‑broking insurance scams

   UK FCA alerts 17‑25‑year‑old drivers to ghost‑broking insurance scams on social media, urging verification via the FCA Firm Checker.

9. 2 months ago

   [SPORTS] 4 sources

   PFA charity mismanagement leads to regulator ban on former finance director

   Regulator flags serious mismanagement at PFA charity and bans former finance director Darren Wilson.

10. 2 months ago

    [BUSINESS] 2 sources

    UK Competition Authority Launches Antitrust Probe into Microsoft Enterprise Software

    UK's CMA begins an antitrust investigation into Microsoft’s enterprise software licensing and cloud practices.

11. 3 months ago

    [BUSINESS] 3 sources

    UK FCA launches review of investment firms' support for bereaved clients

    The FCA is reviewing investment firms' handling of bereaved customers, citing poor service and delays affecting under half of families.

12. 3 months ago

    [BUSINESS] 3 sources

    UK regulator fines and bans former Carillion finance chiefs

    UK’s FRC fines and bans Carillion’s ex‑finance directors for reckless accounting, ending its final probe.

13. 3 months ago

    [BUSINESS] 2 sources

    UK FCA launches competition probe into Mastercard, PayPal and Visa over digital wallet practices

    UK FCA probes Mastercard, PayPal and Visa over possible anti‑competitive digital wallet practices.

14. 3 months ago

    [BUSINESS] 13 sources

    UK FCA's car finance redress scheme hit by legal challenges as claims management probe begins

    UK FCA faces four legal challenges to its £9bn car‑finance redress scheme and launches a probe into claims‑management firms.