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Evening Standard
Evening Standard
Business
Anna Wise

FCA accused of prioritising lenders over consumers in car finance redress scheme

FCA Consumer Voice
Consumer Voice is one of the parties challenging the FCA’s motor finance compensation scheme (Ben Birchall/PA) - (PA Wire)

The UK’s financial watchdog prioritised making its £9.1 billion motor finance compensation scheme cheaper for lenders over protecting drivers, a consumer rights group has claimed.

Consumer Voice is one of the parties challenging the Financial Conduct Authority’s (FCA) plans to compensate drivers who were mis-sold a car loan between 2007 and 2024.

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