Millions of car finance payouts are in jeopardy after the UK's financial watchdog indicated its compensation scheme faces significant delays, changes, or even collapse. This uncertainty stems from four legal challenges against the Financial Conduct Authority ( FCA ). The FCA has advised motor finance firms to prepare for the possibility that its redress scheme, which could see an average payout of £829, may not proceed. The regulator stated that while a hearing date is unclear, these cases are unlikely to be heard before October. In the meantime, it is in discussions about the “possibility of suspending some elements” of its compensation scheme, while still urging lenders to prepare for payouts. But the regulator said it was also considering its options should parts of the scheme be quashed by the courts, including proceeding with a revised version or asking lenders to plan for a scenario where “there would be no scheme”.…