Banks ‘not ready’ for motor finance scheme, says City watchdog

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The City watchdog has warned that motor finance lenders are “not as ready as we would expect” for the introduction of its long-awaited redress scheme.

Nikhil Rathi, chief executive of the Financial Conduct Authority (FCA), has written to the Treasury Committee following inquiries around the legal challenges to its car mis-selling scheme.

The regulator published https://www.cityam.com/banks-not-ready-for-motor-finance-scheme-says-city-watchdog/">[...]