US EditionWatchdog Brings Forward Motor Finance Complaint Deadline
The FCA will end its complaint handling pause on May 31, 2026, enabling firms to prepare for a compensation scheme covering around 14 million motor finance deals.
- On Wednesday, the Financial Conduct Authority said it will lift the pause on handling some motor finance complaints two months early to finalise a compensation scheme and allow firms to prepare.
- FCA officials say the hold allowed them to design an industry-wide compensation scheme, and the regulator is consulting on scheme details as it finalises design choices ahead of launch plans next year.
- The FCA expects the majority of complaints will fall within the scheme and estimates around 14 million deals could be eligible, compensating motorists who were sold car loans between 2007–2024.
- Firms must now ready systems and staff to resume formal complaint responses, as motor finance firms have been investigating claims but not required to reply during the pause.
- Amid lender pushback, the Financial Conduct Authority is consulting on specific rules and timeframes for complaints inside the scheme, expected to launch next year.
11 Articles
11 Articles
Watchdog Brings Forward Deadline for Motor Finance Firms to Handle Complaints
The UK’s financial watchdog has said motor finance firms must start handling complaints two months earlier than originally planned, as it finalises a compensation scheme for those affected by the mis-selling saga. The Financial Conduct Authority (FCA) will be lifting a pause on the handling of certain motor finance complaints on May 31, rather than the July 31 deadline it previously proposed. Firms should already be investigating complaints but …
Evening Standard
Watchdog brings forward deadline for motor finance firms to handle complaints
The Financial Conduct Authority will be lifting a pause on the handling of certain motor finance complaints on May 31, rather than July 31.
FCA brings forward motor finance complaints deadline - Credit Connect
The Financial Conduct Authority (FCA) has announced that it will lift the pause on the handling of motor finance complaints on 31st May 2026, rather than 31st July 2026 as originally consulted on, to ensure consumers receive fair and timely outcomes. The regulator says that this timeframe enables the regulator to finalise and begin implementing any compensation scheme, while giving firms a reasonable period to prepare. n January 2024, the regula…
FCA Will Lift Pause on Motor Finance Complaints in May 2026
The latest statement from the FCA, as they decide to lift the pause on car loan/finance agreements complaints in May next year; We are lifting the pause on the handling of motor finance complaints on 31 [...] The post FCA Will Lift Pause on Motor Finance Complaints in May 2026 appeared first on .
FCA to lift pause on handling motor finance complaints earlier than planned
The Financial Conduct Authority is lifting the pause on the handling of motor finance complaints on 31 May 2026. This is earlier than the July 2026 deadline reflecting what it described as is commitment to ensuring consumers receive fair and timely outcomes. It said the timeframe would allow it to finalise and begin implementing any compensation scheme, while giving firms a reasonable period to prepare. “We paused the handling of some motor fina…
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