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The UK’s financial watchdog has said motor finance firms must start handling complaints two months earlier than originally planned, as it finalises a compensation scheme for those affected by the mis-selling saga. The F inancial Conduct Authority (FCA) will be lifting a pause on the handling of certain motor finance complaints on May 31, rather than the July 31 deadline it previously proposed. ‌

The watchdog said firms should already be investigating complaints but have not needed to respond to them since the FCA put the process on pause in January 2024. This was intended to prevent disorder and inconsistency while it put together plans for an industry-wide compensation scheme. ‌

Around 14 million people across the UK may be due compensation payouts averagi

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