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Evening Standard

Anna Wise

Car finance deal compensation could start next year, says FCA boss

FCA Nikhil Rathi the Financial Conduct Authority Phillipson

Around 30 million car finance deals made between 2007 and 2020 could be eligible for compensation (Aaron Chown/PA) - (PA Archive)

The boss of the UK’s financial watchdog has said payouts to drivers who were unfairly sold car finance deals could be made during 2026.

Nikhil Rathi, chief executive of the Financial Conduct Authority (FCA), said up to 30 million car finance deals were made between 2007 and 2020 but not all will be eligible for compensation.

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