City regulator unveils car loan compensation scheme worth up to £18bn

The GuardianSunday, August 3, 2025 at 2:29:45 PM
City regulator unveils car loan compensation scheme worth up to £18bn
The UK's Financial Conduct Authority (FCA) has announced a massive compensation scheme for motorists who were unfairly charged on car loans, with payouts totaling up to £18 billion. Payments are expected to start in 2026, and while most individuals will likely receive less than £950, the scheme represents a significant win for affected drivers.
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