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FCA vows to defend motor finance redress scheme after legal challenges

Cars parked in a showroom.
Regulator says scheme is the most efficient way to compensate consumers. Photo: Anna Barclay/ Getty Images.

Consumer Voice, Volkswagen Financial Services, Mercedes Benz Financial Services, and Crédit Agricole Auto Finance have all challenged the scheme.

The UK’s financial regulator has said it will “robustly” defend the motor finance redress scheme it announced earlier this year after legal challenges were brought against plans to compensate millions of customers.

The FCA announced its landmark scheme in March, with a promise to put an end to the