The Financial Conduct Authority (FCA) warns that compensation for consumers affected by problems in car finance arrangements is likely to be delayed until at least 2027. The regulator says it has already spent more than £20 million developing the plans for how payouts will be handled, indicating significant work has already been completed. The FCA also signals that additional costs and further preparatory steps remain, which could extend timelines for implementing the payout process.
Both outlets report the watchdog’s assessment of the likely timetable, framing the issue as an impact on when affected customers can expect compensation. The FCA’s comments focus on the scale of planning already underway and the expectation that further development and costs are ahead, rather than providing new details about individual claims or the specific size of compensation awards. The reports align on the central point: the regulator expects payouts to take longer than earlier hopes, with the earliest likely date pushed to at least 2027.
