FCA fires claims warning as Barclays goes early on motor finance redress offers

The UK’s Financial Conduct Authority has warned motor finance lenders that early settlement offers must match the maximum compensation available under its £9 billion mis-selling redress scheme, as Barclays prepares to make voluntary payments ahead of February legal challenges, potentially undermining litigation funders, law firms and claims management companies pursuing claims outside the scheme, particularly as research shows that nearly 90% of affected consumers want the option of immediate compensation.

More from the Gazette.