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UK car finance lenders get concession to prep for £11bn compensation payments

By Sofia Gerace ( March 4, 2026, 16:41 GMT | Comment) -- UK car finance lenders have secured an early concession after the financial sector regulator signalled they could have between three and five months to prepare before reaching out to customers that are due compensation in the sector's £11 billion car finance scandal. The announcement from the Financial Conduct Authority follows calls from the sector for a credible implementation period for the large-scale redress program. UK car finance lenders could be given between three and five months to prepare for letting their customers know they are eligible for compensation under the £11 billion ($14.7 billion) redress plan in what would be a significant concession for the financial services sector....

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