BREAKING NEWS: The Financial Conduct Authority has confirmed that it will finally be announcing the redress scheme rules for Motor Finance Mis-selling after 4.30pm on Monday 30th March 2026, when the markets close. The announcement should lay out the pathway for millions of car buyers to be paid compensation for the industry-wide overcharging, connected to secret commission payments, placed over the 13-year period from 2007 to 2020.
It is anticipated that redress scheme itself will not be formally launched for another 3 months to enable the banks to prepare.
If you have already instructed Johnson Law Group to bring your complaint, then your finance agreement details will have already been logged with the bank. We will be reviewing the scheme rules in detail and working out how compensation payments are to be calculated and, more importantly, whether that is in line with your legal rights for compensation.
When the offers start coming in, we will be in touch.
In the meantime, if you have still not uploaded a copy of your driving license on to our client portal, please do so as this will speed up payments on your claim.
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