Carmakers to win reprieve in £11bn UK motor finance redress scheme

Regulator’s planned climbdown follows lobbying by banks and car groups with in-house lenders

17 Feb, 21:00 — 18 Feb, 05:00

Moderate (32/100)

2 sourcesNarrow spread2 regions

Why this matters

This story is significant as it concerns a potential £11bn financial redress scheme impacting both UK consumers and the motor finance industry. A reprieve for carmakers means they may face reduced liabilities, while consumers who were potentially mis-sold finance products could receive less compensation. The regulator's change in stance, reportedly due to lobbying, raises questions about regulatory independence and consumer protection.

ℹOnly 2 sources cover this story

Perspective Analysis

AI-generated comparison of how 2 sources cover this story

The Financial Times reports that UK carmakers are set to receive a reprieve in an £11bn motor finance redress scheme, with the regulator's planned climbdown attributed to lobbying efforts by banks and car groups. The Wall Street Journal article provided is unrelated to this story, focusing instead on Japan's investments in the US.

Political spectrum

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wsj

Outlet rating This story

SourceOutletiGeneral editorial lean of the outletStoryiHow they covered this specific storyTone

FTcentercenter-leftanalyticalHighlights industry lobbying influencing regulatory decisions

wsjcentercenter-right—Did not cover this specific story

Coverage leans: center-left

Coverage is limited to a single outlet, which frames the regulatory decision as influenced by industry lobbying, suggesting a critical perspective on the process.