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The Latest Breaking News from Financial Conduct Authority

Watchdog warns millions face ‘fresh uncertainty’ over car finance compensation

Three lenders and a consumer group have launched legal challenges to the Financial Conduct Authority’s redress scheme.

Evening Standard

Lloyds sticks to £2bn provision for motor finance compensation

This is despite the FCA making a number of changes to the scheme, compared to its original proposals set out last year.

Evening Standard

Lenders to have greater flexibility offering higher loan to income mortgages

The Building Societies Association has welcomed a consultation from the Prudential Regulatory Authority and Financial Conduct Authority.

Evening Standard

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FCA car finance compensation scheme: What is it and who is eligible for payment?

The Financial Conduct Authority (FCA) said it is launching a £7.5 billion compensation scheme to give cash back to Britons impacted by unfair car loans

Evening Standard

FCA wants buy now, pay later sector to ‘thrive’ as firms prepare for regulation

The sector will come under the Financial Conduct Authority’s regulation from July 15 2026.

The Independent UK

The type of job you do could be affecting your ability to save money – and not just because of the salary

It’s often said that millions of people in the UK don’t save enough – with one in ten adults saving no money at all. That figure from a 2025 report from the Financial Conduct Authority regulator came with a warning that it’s leaving people walking a financial tightrope.

The Conversation

FCA prepared to tweak car loan compensation scheme after pushback, boss says

The Financial Conduct Authority’s consultation on its proposed motor finance redress scheme closed last week, with more than 1,000 responses.

Evening Standard

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First-time buyers and self-employed could find it easier to access mortgages

Access to later life mortgages could also be key to helping people achieve their financial goals, the Financial Conduct Authority said.

Evening Standard

It could soon be easier for first-time buyers and the self-employed to get a mortgage

Mortgage regulator wants to modernise its rules

The Independent UK

Watchdog brings forward deadline for motor finance firms to handle complaints

The Financial Conduct Authority will be lifting a pause on the handling of certain motor finance complaints on May 31, rather than July 31.

Evening Standard

FCA launches tool to help investors recognise signs of investment hype

The tool, which has been designed for mobile use, mirrors group chat-style discussions that investors have with their peers.

Evening Standard

City watchdog ‘nakedly’ siding with lenders on car finance redress, MPs say

Cross-party group says Financial Conduct Authority had been ‘patently influenced’ by concerns over profits

The Guardian - UK

Santander urges ministers to intervene in UK car finance compensation scheme

Lender’s chief executive says redress proposals could affect jobs, supply chains and broader UK economy

The Guardian - UK

Banks ‘missed chances’ to prevent romance fraud – as victim loses £72k

More than £106m was lost to romance fraud over the last financial year

The Independent UK

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Evening Standard

Lloyds challenges car loan compensation bill as it warns of £2bn hit

The high street banking giant raised concerns about the Financial Conduct Authority’s calculations for how much consumers lost out.

The Independent UK

BMW sets aside more than £200m for UK motor finance scandal

The financial regulator, the Financial Conduct Authority (FCA), is currently consulting on an industry-wide redress scheme.

The Independent UK

Communities are using rules to successfully maintain access to cash – regulator

Monmouth in Wales is the 121st banking hub to open in 12 months, with new Financial Conduct Authority rules having come into force a year ago.

Evening Standard

Car loans: Why could drivers still get compensation after court ruling?

The UK’s financial regulator is to consult on consultation payments after a landmark court ruling on motor finance agreements.

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The Independent UK

Some firms ‘earn much more money than it costs to provide pay monthly insurance’

For many customers, especially those in more vulnerable groups, spreading the cost of insurance is a necessity, the Financial Conduct Authority said.

The Independent UK

Use buy now pay later? Expert tips to avoid getting into debt

New proposals by the Financial Conduct Authority will give buy now pay later shoppers more protection

Evening Standard

City watchdog extends rules on bullying and harassment across financial sector

The Financial Conduct Authority said serious incidents qualify as misconduct under its rules across the industry.

Evening Standard

UK’s financial watchdog launches probe into troubled Wood Group

The Financial Conduct Authority’s probe will look into the period between January 2023 and November 2024.

Evening Standard

Crackdown launched on ‘rogue financial promotions’ by some influencers

Many finfluencers act legitimately but others tout products or services illegally and without authorisation, the Financial Conduct Authority said.

Evening Standard

Millions ‘walking financial tightrope’ as one in four adults have low resilience

The Financial Conduct Authority estimates that 24% of UK adults have low financial resilience and one in 10 has no cash savings.

Evening Standard

Proposals to make mortgage changes easier, faster and cheaper set out by FCA

The Financial Conduct Authority has launched a consultation into its proposals.

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