Barclays offers early motor-finance settlements

Barclays is offering optional early compensation settlements to some customers who complained about motor-finance commission, giving eligible complainants a chance to receive redress before legal challenges to the Financial Conduct Authority’s scheme are resolved. Barclays Partner Finance said it would calculate the offers using the FCA scheme’s methodology and explain how each amount was reached. The offers are limited: Barclays will contact a pool of customers whose complaints were acknowledged on or before October 1, 2026, but not all customers meeting that date will receive an offer. The bank has not confirmed which customers it will select. Customers will have at least one month to respond. Accepting an offer means giving up the right to seek additional compensation, while declining or taking no action leaves the complaint subject to the wider process. Barclays said early settlements could spare some customers a longer wait; it has set aside £430 million for motor-finance compensation through Barclays Partner Finance, and the early offers are expected to cover only a small proportion of that provision. The FCA supports lenders making early offers only if they are no lower...