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

Cross-asset desk, Private Trade News (2026-09-01): 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… Primary source: original at Guardian Banking (theguardian.com).

September 1, 2026 8:30 AM GMT · Guardian Banking

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

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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