The FCA is launching a £1 million campaign, letting motor finance customers know they don’t need to use a claims management company (CMC) or law firm to access an industry-wide compensation scheme the regulator is proposing. Using a CMC or law firm to make a motor finance claim could cost consumers around 30% of any compensation paid. Of motor finance holders aware of the possibility of being owed compensation, 25% have already made a claim and a further 39% intend to. Sheree Howard, executive director at the FCA, said: ‘We’ll set out plans for a free, easy-to-access motor finance compensation scheme. Respondents consist of previous and existing motor finance customers.Links to Cameron Smith’s Instagram, TikTok and Instagram video.Consumers who are concerned that they were not told about commission and think they may have paid too much for their motor finance should complain now.