Regulator backs early compensation offers for car finance drivers
A regulator has said it supports lenders making early compensation offers to drivers caught up in the car finance dispute, provided the offers are fair.
The regulator said it backs lenders who choose to make compensation offers early, rather than waiting for the wider car finance dispute to be fully resolved. Its support depends on the offers being fair to the drivers who receive them.
The position gives lenders a route to pay compensation sooner while the broader dispute continues, and it sets fairness as the condition for that approach.