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Evening Standard
Evening Standard
Anna Wise

Car finance payouts likely to be delayed until at least 2027, warns watchdog

FCA the Financial Conduct Authority
Payments through the scheme were meant to start this year but are now being delayed (Ben Birchall/PA) - (PA Archive)

Planned payouts for people mis-sold a car loan are likely to be delayed until at least 2027, as the UK watchdog faces legal battles which threaten to derail its compensation scheme.

The Financial Conduct Authority (FCA) said it has already spent more than £20 million developing the plans and that further costs lie ahead.

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