London, Oct 7, 2025 (AFP) - UK regulator proposes £8.2 bn compensation for bad car loans

NAMPA / AFP

2025-10-07

Britain's financial regulator on Tuesday proposed that lenders pay consumers £8.2 billion ($11 billion) in compensation after some car loans were deemed unlawful. "Many motor finance lenders did not comply with the law or the rules. Now we have legal clarity, it's time their customers get fair compensation," the Financial Conduct Authority's chief executive Nikhil Rathi said in a statement. The regulator said payouts on "an expected 14 million un......

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