FCA faces four lawsuits over £9.1bn compensation scheme for car loan victims

Watchdog says legal challenges from Consumer Voice and three lenders ‘create fresh uncertainty for millions of consumers’ Business live – latest updates The UK financial watchdog is facing four legal challenges against its £9.1bn compensation scheme for victims of the motor finance scandal. The Financial Conduct Authority (FCA) said that it will defend the scheme “robustly” as the “fastest, simplest route for consumers and the most efficient way for firms to put things right”.