Motor finance litigation is moving forward. Is your operation ready?
For all the attention on motor finance over the past couple of years, much of the conversation has focused on legal judgments, regulatory developments and what any future redress arrangements might look like. But while firms have been watching those developments slosely, claimant activity hasn’t stood still. The recent Court of Appeal ruling allowing thousands of motor finance claims to continue […]
What the FCA’s partial suspension of the motor finance scheme means for firms
The FCA’s motor finance compensation scheme was partially suspended on 2nd July 2026 following a decision from the Upper Tribunal, while challenges from four commercial parties (Consumer Voice, represented by Courmacs Legal, Volkswagen Financial Services, Mercedes Benz Financial Services and Crédit Agricole Auto Finance) are heard. The challenges are expected to be considered by the Upper Tribunal either between 14th–18th December […]
What the FCA motor finance redress scheme update means for lenders
The FCA has issued its latest update to motor finance firms and lenders following legal challenges to its proposed motor finance redress scheme. The regulator continues to iterate that the scheme is its preferred way of delivering redress to the millions of customers potentially affected. However, the legal process is now underway and will shape if, how and when it can be delivered. Earlier this month, the FCA […]
Motor finance redress scheme meets resistance
The FCA has confirmed its proposed motor finance redress scheme is now subject to legal challenge. The regulator confirmed it has received four claims; one from Consumer Voice represented by Courmacs Legal Ltd and three from lenders including Volkswagen Financial Services, Mercedes Benz Financial Services and Crédit Agricole Auto Finance. The regulator has reiterated its position that an industry-wide approach remains the most effective way […]
FCA’s final motor finance redress scheme: What lenders need to do now
FCA’s final motor finance redress scheme: What has changed and what lenders need to do now The FCA announced the redress scheme and compensation details On 30 March 2026, the FCA published its final motor finance consumer redress scheme – the largest structured redress exercise the UK retail lending market has faced since PPI. The clock is running, and several obligations have already started. PS26/3: Motor finance consumer redress scheme What the […]
FCA motor finance redress scheme announcement coming next Monday (30th March)
The FCA will publish the final details of its motor finance redress scheme shortly after markets close on Monday 30th March 2026, it has announced today. This marks a critical moment for the motor finance sector, bringing clarity to a programme that has been closely watched since the initial consultation in October 2025. While the announcement will provide the […]
Motor finance consumer redress scheme implementation expectations
The FCA has announced that if a motor finance consumer redress scheme (CRS) is implemented following the end of the consultation period this month, it will include an implementation period. The implementation period will likely be three months, extending up to five months for older agreements. During that period, firms would be expected to prepare to operate the scheme and then process the […]
FCA guidance on multiple representation in motor finance complaints
The FCA and Solicitors Regulation Authority (SRA) have issued a joint message to claims management companies and law firms involved in motor finance commission claims. The regulators are emphasising the issue of multiple representation. This is when a complainant may have multiple representatives instructed on the same claim, with instances of up to four different representatives appearing for a single claim noted. To address this with motor finance lenders, the FCA has also […]
Watch on-demand: Sessions with our compliance experts
The best of our online sessions with experts All our online sessions in one place – all you need to know about the latest changes in the regulatory landscape, top tips and best practice for financial services firms. https://vimeo.com/1126121961 Redress roadmap- what the FCA’s new redress scheme means for you Explore what the FCA’s […]
FCA: Preparing for the motor finance redress scheme is critical
Garry Evans, TCC Group’s Chief Commercial and Product Officer, reflects on the recent FLA Annual Motor Finance Convention. The key takeaway from the FLA Annual Motor Finance Convention is clear: If your plan was to wait for the final guidance from the FCA before starting your preparation for the redress scheme, you will be too […]