FCA announce consultation on the car finance mis-selling redress scheme.

FCA publishes a consutation paper on an industry wide scheme to compensate motor finance customers who were treated unfairly between 2007 and 2024.

The Consultation will close on 18 November 2025 for comments on the overall design of the Motor Finance Consumer Redress Scheme and on 4 November 2025 for comments on the proposals to further extend how long firms have to provide a final response to certain motor finance complaints. If adopted, the Motor Finance Consumer Redress Scheme will be given effect through amendments to CONRED (the FCA’s Consumer Redress Schemes sourcebook).