Up to 14m car loan scandal victims in line for average £700 payout, City regulator announces

<p>City regulator unveils compensation scheme for motorists who bought cars via discretionary commission deals from 2007 to 2024</p><p>Victims of the UK’s car finance scandal are likely to receive compensation payouts averaging £700 resulting from 14m unfair loans, the City regulator said on Tuesday.</p><p>The payouts would be less than previously expected, but the Financial Conduct Authority (FCA) said lenders could be landed with an £8.2bn compensation bill, which could go as high as £9.7bn.</p> <a href="https://www.theguardian.com/business/2025/oct/07/uk-car-loan-scandal-victims-in-line-for-payout-fca">Continue reading...</a>