FCA warns car finance firms over ‘lost’ data amid £18bn compensation scheme
City regulator says it will challenge lenders claiming not to have records about mis-sold car loansBusiness live – latest updatesThe City regulator has warned it will challenge lenders claiming to have lost customer records about mis-sold car loans to ensure they get their fair share of a...
<p>City regulator says it will challenge lenders claiming not to have records about mis-sold car loans</p><ul><li><p><a href="https://www.theguardian.com/business/live/2025/sep/09/anglo-mining-mega-merger-londoners-commuting-struggles-tube-strike-second-day-business-live">Business live – latest updates</a></p></li></ul><p>The City regulator has warned it will challenge lenders claiming to have lost customer records about mis-sold car loans to ensure they get their fair share of a potential £18bn compensation pot.</p><p>The Financial Conduct Authority (FCA) is considering whether <a href="https://www.theguardian.com/business/2025/aug/03/city-regulator-unveils-car-loan-compensation-scheme-worth-up-to-18bn">to open its redress scheme</a> to contracts dating back to 2007, but some lenders have complained that they do not have records stretching back that far.</p> <a href="https://www.theguardian.com/business/2025/sep/09/fca-car-finance-firms-compensation-scheme-car-loans">Continue reading...</a>
Read the full article at:
The Guardian World →