Business
Drivers may get compensation offers before car finance saga ends
The regulator says it supports lenders offering early compensation offers, as long as they are fair.
BBC Business•
Drivers may be offered compensation from lenders ahead of the next legal battle in the car finance mis-selling saga.
Regulator the Financial Conduct Authority (FCA) said it would welcome lenders making settlement offers as long as customers were not given a worse deal than under its proposed central scheme.
That scheme is facing a legal challenge, to be heard in February, with resulting compensation unlikely to be paid until late next year.
Stephen Braviner Roman, the FCA's general counsel and co-lead on the motor finance project, said: "Fair settlement offers could result in some people getting money sooner. It's clear they want the choice.