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UK's FCA considers car finance redress program

( August 3, 2025, 18:19 GMT | Official Statement) -- MLex Summary: The UK's financial watchdog has proposed a redress program for car finance customers who were treated unfairly and estimates it will cost the industry between 9 and 18 billion pounds. The program will be consulted with the industry in early October. It will cover the use of discretionary commission arrangements in car finance. The FCA will also consult on which non-discretionary commission arrangements should be included after the Supreme Court ruled earlier this week that a consumer that was treated unfairly was due compensation from car finance lender FirstRand Bank. Statement and press release are attached....

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