City watchdog extends motor finance consultation after backlash

FirstRand Warns of Higher UK Provision Amid Motor-Finance Redress Dispute

South Africa’s most valuable bank, FirstRand Limited, has warned that it may need to raise additional provisions for its UK operations as uncertainty deepens over the Financial Conduct Authority’s (FCA) proposed motor-finance redress scheme. The Johannesburg-based lender, which operates in the UK through its motor-finance subsidiary, said the latest framework released by the FCA “appears […] The post FirstRand Warns of Higher UK Provision Amid M…

Impact of car finance scandal on Islanders being investigated

ISLANDERS who may think they may have been mis-sold car finance are being encouraged to come forward – after millions of UK motorists were thought to be affected. The Jersey Consumer Council has revealed it is investigating “the level of potential exposure for consumers in our jurisdiction” after the UK Financial Conduct Authority announced an industry-wide compensation scheme for eligible motor finance customers. The scheme follows a UK scandal…

FCA extends motor finance compensation scheme consultation

The Financial Conduct Authority has extended the deadline for its consultation on its motor finance compensation scheme. It proposed the scheme last month after it was found that motor finance […] The post FCA extends motor finance compensation scheme consultation first appeared on Bodyshop Magazine.

Car loans compensation scheme consultation extended

Financial Conduct Authority makes decision to extend deadline after requests for more time to analyse market data and ensure the scheme is effective.

Motor finance compensation scheme consultation progress and timing

On 5 November 2025, the FCA issued a statement providing an update on the consultation proposals for its motor finance consumer redress scheme CP25/27. The FCA states that it is extending the consultation deadline until 5pm on 12 December. It still expects to publish final rules in early 2026 albeit that will now be either February or March.

FCA extends car loans commission redress scheme consultation deadline

The Financial Conduct Authority has extended the consultation on an industry-wide compensation scheme to 12 December