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Home > Finance > UK regulator open to refining motor finance redress plan, Rathi says

Finance

UK regulator open to refining motor finance redress plan, Rathi says

Published by Global Banking and Finance Review

Posted on December 3, 2025

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LONDON, Dec 3 (Reuters) - Britain's Financial Conduct Authority (FCA) could "adjust and refine" a proposal for a multi-billion-pound motor finance redress package if it sees convincing, evidence-based feedback during a consultation, its chief executive said on Wednesday.

FCA chief Nikhil Rathi told the FT Global Banking Summit the watchdog had received "lively" feedback on its proposals for a compensation scheme that it has estimated could cost the industry around 11 billion pounds ($14.8 billion).

The consultation ends on December 12.

(Reporting by Phoebe Seers, editing by Kirstin Ridley)

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