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Boss of City regulator accused of threatening consumer group over £9.1bn car loan scheme

The Guardian Business Tuesday 01 September 2026, 07:16 UTC By Kalyeena Makortoff Banking correspondent 1 min read
Key Points

FCA chief, Nikhil Rathi, warned of ‘adverse consequences’ if challenge made to settlement, court filings allegeThe boss of the UK’s financial regulator is accused of threatening a consumer group with “adverse consequences” if it blocked a £9.1bn compensation scheme meant to settle the motor finance scandal. Legal documents reviewed by the Guardian said the alleged comments by the Financial Conduct Authority (FCA) chief executive, Nikhil Rathi, amounted to “an inappropriate intervention by a...

FCA chief, Nikhil Rathi, warned of ‘adverse consequences’ if challenge made to settlement, court filings allege

The boss of the UK’s financial regulator is accused of threatening a consumer group with “adverse consequences” if it blocked a £9.1bn compensation scheme meant to settle the motor finance scandal.

Legal documents reviewed by the Guardian said the alleged comments by the Financial Conduct Authority (FCA) chief executive, Nikhil Rathi, amounted to “an inappropriate intervention by a public official”.

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FCA (ORG) Nikhil Rathi (PERSON) UK (LOCATION) Guardian (ORG) the Financial Conduct Authority (ORG)
Originally published by The Guardian Business Read original →

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