UK car finance redress program has cost watchdog £20m, lawmakers told
( June 9, 2026, 09:42 GMT | Official Statement) -- MLex Summary: The UK's financial regulator said its ongoing work to set up a program for consumers to be compensated over the car finance scandal cost it £20.5 million up to March this year. In a letter to lawmakers, the Financial Conduct Authority expressed concerns over the delays caused by ongoing legal challenges to its redress plan. It said the challenges will add about £2.7 million in costs. They won't be heard before October and are likely to increase costs for lenders too, the FCA said.Statement is attached....
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