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UK FCA Considers £18bn Compensation for Misled Car Buyers

8/4/2025

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Summary

Story summary

The UK's Financial Conduct Authority (FCA) is set to explore a compensation scheme for drivers misled into car finance deals, with costs soaring between £9bn and £18bn. Following a Supreme Court ruling, only select high-commission cases may receive payouts, potentially starting in 2026, with average claims anticipated to be below £950.

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Story summary

The UK's Financial Conduct Authority (FCA) is set to explore a compensation scheme for drivers misled into car finance deals, with costs soaring between £9bn and £18bn. Following a Supreme Court ruling, only select high-commission cases may receive payouts, potentially starting in 2026, with average claims anticipated to be below £950.