Barclays launches early motor finance compensation payouts

Barclays initiates motor finance compensation payouts ahead of a legal challenge outcome.

Barclays is preparing to offer early compensation to former motor finance customers before a legal challenge to a multibillion-pound redress scheme concludes. The financial regulator supports these early payments provided they meet fairness standards. Lenders across the sector are currently awaiting final court outcomes regarding the broader compensation framework.

• The regulatorThe Financial Conduct Authority backs lenders that choose to issue fair redress before legal proceedings conclude.
• The timelineBarclays plans to roll out payouts to affected customers during the week.

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