The Financial Conduct Authority (FCA) said today the Upper Tribunal had partially suspended part of its motor finance redress scheme
In the statement it said the Upper Tribunal has confirmed it will hear the legal challenges to its motor finance scheme on 14 to 18 December 2026 or 16 to 26 February 2027.
“The final dates depend on whether any of those involved in the case apply for further expert opinion or disclosure of information, and whether any such application is successful.
“The Tribunal has also made an order suspending parts of the scheme on terms agreed by us with the 4 commercial parties that have challenged (Consumer Voice, represented by Courmacs Legal, Volkswagen Financial Services, Mercedes Benz Financial Services, and Crédit Agricole Auto Finance).
The FCA added that the partial suspension enabled motor finance houses to keep preparing for the scheme and progress complaints as far as possible, while avoiding work that may need to be repeated if the challenges succeed.
“It also provides certainty for some consumers sooner, by requiring firms to tell complainants who are not owed compensation, subject to limited exceptions.
“We have set out what the partial suspension means for firms and consumers, including what firms must continue to do and what consumers can expect while the legal challenge is ongoing.
It reiterated its belief that its scheme was the best way forward consumers.
“Our scheme is the quickest, fairest and most efficient way to compensate consumers and we will defend it robustly.”
