Banking #car finance#compensation
FCA Delays Car Finance Compensation Payments Until 2027, Average Payout Set at £829
The Financial Conduct Authority (FCA) has delayed compensation payments for millions of drivers mis-sold car finance agreements until at least 2027. Average payouts of about £829 are expected under the FCA's proposals, with total compensation costs including administration reaching £9.1bn. Legal challenges have delayed calculations and payments, affecting approximately 12 million car loans.
Jul 2, 2026 1 source