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FCA Warns Blocking £9.1B Scheme Could Trigger Retaliation

9/1/2026

Summary

Story summary

FCA chief executive Nikhil Rathi warned Consumer Voice on 27 April that blocking a £9.1 bn scheme would trigger retaliation.
He said the FCA would refuse collaboration and could issue adverse press briefings.
Consumer Voice and lenders Volkswagen, Mercedes-Benz and Crédit Agricole are challenging the scheme.
The challengers claim payouts average £830 per mis-sold loan, which they call low-balling.
FCA alleges Consumer Voice concealed funding ties to profit-making claims firm Courmacs Legal.

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Story summary

FCA chief executive Nikhil Rathi warned Consumer Voice on 27 April that blocking a £9.1 bn scheme would trigger retaliation.
He said the FCA would refuse collaboration and could issue adverse press briefings.
Consumer Voice and lenders Volkswagen, Mercedes-Benz and Crédit Agricole are challenging the scheme.
The challengers claim payouts average £830 per mis-sold loan, which they call low-balling.
FCA alleges Consumer Voice concealed funding ties to profit-making claims firm Courmacs Legal.