UK regulator cuts £2bn from car finance redress costs for banks
Financial Conduct Authority lowers estimate for loans eligible for compensation scheme
Financial Conduct Authority lowers estimate for loans eligible for compensation scheme

Comments by Nikhil Rathi position watchdog for stand-off with claims management companies and law firms

Financial watchdog to give detailed proposals in October, following Friday’s Supreme Court ruling

Watchdog believes motorists mis-sold auto finance could get payouts totalling up to £18bn

Financial regulator set to announce by Monday if it will impose an industry-wide redress scheme

Britain’s largest provider of vehicle loans wants to draw a line under scandal that rocked the sector

Original judgment had threatened to leave lenders on hook for tens of billions of pounds in compensation