FCA’s Motor Finance Redress Scheme: What Firms Need to Know
The Financial Conduct Authority (FCA) is preparing to launch an industry-wide redress scheme aimed at compensating consumers affected by historic unfair motor finance practices. This marks a significant regulatory intervention, with wide-ranging implications for Firms across the sector. While the concept of a redress scheme will be covered in a separate document (link at the bottom of this page), we have asked Luis Hernandez at S&W Partners to prepare some insights which focus on the practicalities, expected scope, and what Firms should be doing now to prepare for the scheme when it comes.
