UK's FCA plans a £9-18 billion compensation scheme for consumers misled on car loans.

The UK's Financial Conduct Authority (FCA) is planning a compensation scheme for consumers who were missold car loans, potentially costing banks between £9 billion and £18 billion. This follows a Supreme Court ruling and aims to address improperly disclosed commissions on car loans. The scheme could see payouts starting in 2026, offering relief to those affected by unfair car finance arrangements.