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A major car finance compensation update has been issued - as drivers and motorists get a deadline for replies to complaints . The Financial Conduct Authority (FCA) has written to firms today to remind them they should be progressing with complaints.

Firms have been told today they must resume with queries from Friday, December 5. The FCA has also extended the complaints pause for all other relevant motor finance DCA and non-DCA commission complaints until May 31 2026.

It said that this timeframe enables the FCA to “finalise and begin implementing any compensation scheme, while giving firms a reasonable period to prepare”.

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It comes as millions of people are on track to receive payo

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