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FCA Launches £7.5 Billion Compensation Scheme for Unfair Loans

4/4/2026

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Summary

Story summary

The Financial Conduct Authority (FCA) has launched a £7.5 billion compensation scheme.
The two categories cover loans issued 2007–2014 and 2014–2024.
Payouts vary by case, averaging between £734 and £1,203.
The FCA reduced its estimate of unfair loan agreements to 12.1 million.
Consumers can file complaints via the FCA's free online tool on its website, with compensation possible this year.

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Story summary

The Financial Conduct Authority (FCA) has launched a £7.5 billion compensation scheme.
The two categories cover loans issued 2007–2014 and 2014–2024.
Payouts vary by case, averaging between £734 and £1,203.
The FCA reduced its estimate of unfair loan agreements to 12.1 million.
Consumers can file complaints via the FCA's free online tool on its website, with compensation possible this year.