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The Guardian - UK
The Guardian - UK
Business
Kalyeena Makortoff Banking correspondent

Boss of City regulator accused of threatening consumer group over £9.1bn car loan scheme

FCA Consumer Voice Nikhil Rathi City CV Alex Neill United Kingdom
Nikhil Rathi, chief executive of the Financial Conduct Authority.
Nikhil Rathi, chief executive of the Financial Conduct Authority. Photograph: Bloomberg/Getty Images

The boss of the UK’s financial regulator is accused of threatening a consumer group with “adverse consequences” if it blocked a £9.1bn compensation scheme meant to settle the motor finance scandal.

Legal documents reviewed by the Guardian said the alleged comments by the Financial Conduct Authority (FCA) chief executive, Nikhil Rathi, amounted to “an inappropriate intervention by a public official”.

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