
The UK's Financial Conduct Authority (FCA) has announced a consultation regarding the extension of the deadline for motor finance complaints, following a significant car finance scandal that has affected numerous consumers. The FCA's decision comes as Close Brothers, a financial services firm, anticipates that potential claims related to the scandal could impact its financial guidance for 2025. Meanwhile, drivers may face delays in receiving compensation, with reports indicating that payouts could be postponed for up to a year. In a related development, some drivers are set to receive refunds of up to £180 due to a penalty error by a local council, while others could potentially lose £200 each due to driving on poorly maintained roads. The FCA is allowing banks a year to respond to customer complaints, which raises concerns about the impact on consumers as banks may increase charges to recover losses from the scandal.
