All news on the topic: Nikhil Rathi

The UK’s financial regulator has been accused of rushing the car finance scandal redress scheme, as millions of drivers continue to wait for compensation.

Compensation payouts are due on around 12.1 million unfair motor finance deals, at an average of £829 each, the financial watchdog has said as it unveiled the final plans for its redress scheme.

Millions of consumers could be eligible for £700 payouts after the City watchdog outlined compensation plans for the car finance scandal.