The Financial Conduct Authority (FCA) is considering a UK-wide consumer redress scheme for car loans, with a decision expected within weeks of the Supreme Court's judgment in July. Factors include whether the scheme will be opt-out or opt-in.

​

The FCA acknowledges the potential economic harm from significant payouts, emphasizing any scheme must be fair to consumers while maintaining market integrity. They are preparing to act swiftly following the Supreme Court's decision, as the situation could mirror the £50bn PPI mis-selling scandal, with some firms already setting aside funds for potential claims.