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The FCA and Financial Ombudsman’s latest consultation on modernising the redress system is not just another policy update. It is an important signal about the future direction of complaint handling, redress, and regulatory expectations across financial services. For firms involved in Motor Finance, the timing is especially notable. With final FCA rules on Motor Finance remediation still expected shortly, and an implementation period widely anticipated before any scheme goes l

FCA Motor Finance Redress Scheme: What the Latest “Implementation Period” Update Really Means for Operations

Identifying is easy — managing them is the hard part! Last week, the FCA sent a Dear CEO communication to motor finance lenders on a fast-growing problem: customers being signed up by more than one professional representative  (a CMC and/or a law firm) for the same complaint. At the same time, the FCA and SRA issued aligned expectations to professional representatives themselves — in effect, a reset of what “good” looks like when it comes to onboarding, duplicate checks, and

2026 is shaping up to be the year the motor finance sector moves decisively from regulatory debate into operational delivery. The FCA consultation has closed, final rules are expected in early 2026, and firms are planning on complaints coming off hold in May. That combination creates a familiar (and uncomfortable) dynamic: the industry has enough clarity to know what’s coming, but not enough detail to wait comfortably. For many firms, the risk now is not whether they will be

Three weeks in, and with three left before submissions close, the FCA’s Motor Finance Consultation is gathering pace. With the FCA’s Chief now in Detroit seeking global support, attention has shifted from what to how: how feasible, how fair, and how fast firms can deliver redress at scale. Our latest blog explores what’s changed, what’s next, and how lenders can stay ready as the race for redress continues.

The FCA’s long-awaited consultation on motor finance redress has ignited intense debate across the industry. With billions in potential compensation and far-reaching operational implications, firms now face critical decisions on data, governance, and readiness. In this edition of The Bottom Line, we explore what the consultation means for lenders, how to prepare, and where the next challenges may arise.

The Supreme Court’s long-awaited decision in Johnson, Wrench  and Hopcraft  has now been delivered. For many in the motor finance sector,...

The FCA’s recent warning to general insurers and brokers about premium finance practices is more than a regulatory reminder. It is a...

July 2025 has brought the most significant set of proposed changes to the UK’s financial redress system in over a decade. Through two...

Can a Claims Management Company (CMC) be held liable for swamping a lender with tens of thousands of meritless complaints? A recent...

In early June, the Financial Ombudsman Service (FOS) launched a consultation on its longstanding 8% simple interest rate – a benchmark...

FCA Redress Scheme: A Turning Point for Motor Finance On 3 June, the Financial Conduct Authority published its latest statement on the...

The Financial Conduct Authority (FCA) has signalled a pivotal shift in the motor finance sector, confirming that an industry-wide redress...