UK regulator lowers car finance mis-selling bill to $12 billion
30/03/2026 16:51
LONDON, March 30 (Reuters) - Britain's motor finance industry must pay 9.1 billion pounds ($12 billion) to compensate consumers for unfair vehicle loans, the markets regulator said on Monday, as it unveiled its final bill for one of Britain's costliest financial mis-selling scandals. The headline number, published by the Financial Conduct Authority (FCA) after the stock market's close, has been lowered from an originally expected 11 billion pounds amid pushback during a consultation with the industry, which includes Lloyds LLOY.L, Close Brothers CBRO.L, Barclays BARC.L and the finance arms of vehicle manufacturers. ($1 = 0.7583 pounds) (Reporting by Kirstin Ridley and Phoebe Seers; Editing by Tommy Reggiori Wilkes) ((kirstin.ridley@thomsonreuters.com; +44 (0) 207 513 5666;))