The UK's Financial Conduct Authority (FCA) is considering the implementation of a redress scheme for banks concerning historic practices in their motor finance operations. This initiative aims to ensure that consumers who may have been harmed by these practices receive appropriate compensation. The FCA has indicated that it is likely to consult on this matter, urging banks to prepare for the forthcoming scheme. Major lenders, including the Bank of Ireland, are expected to be involved as the FCA moves forward with this regulatory effort.