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City regulator warns finance firms over 'lost' mis-sold car loans data
September 10, 2025
|The Guardian
The City regulator has warned it will challenge lenders claiming to have lost customer records about mis-sold car loans to ensure they get their fair share of a potential £18bn compensation pot.
The Financial Conduct Authority (FCA) is considering whether to open its redress scheme to contracts dating back to 2007, but some lenders have complained that they do not have records stretching back that far.
Speaking to MPs on the Treasury committee, the FCA chief executive, Nikhil Rathi, said this would not be accepted as a blanket excuse. "Where a firm says to us that they don't have the data, we're not just going to take that at face value. We will look at that very forensically," he said.
هذه القصة من طبعة September 10, 2025 من The Guardian.
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المزيد من القصص من The Guardian
The Guardian
Rock me Amadeus, all over again: can TV series inspire a new generation to love Mozart?
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The Guardian
Doctors' strike during flu crisis 'beyond belief' - PM
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4 mins
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The Guardian
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6 mins
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The Guardian
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4 mins
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The Guardian
President takes star role in battle for Warner Bros businesses
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6 mins
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The Guardian
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1 mins
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The Guardian
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2 mins
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The Guardian
Machado feared US strike on escape boat as she fled
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2 mins
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The Guardian
Police warn drivers of risks when handing over keys
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2 mins
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The Guardian
Card Factory delivers surprise pre-Christmas profit warning
Card Factory has delivered an unwelcome early Christmas surprise for investors by issuing a shock profit warning during its peak trading period, which sent shares plunging by more than a fifth.
1 min
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