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The car finance sector insists it complied with the law as it was understood, and as regulation required.
The Finance and Leasing Association, the trade body for the motor finance sector, has said it wants the Supreme Court to provide what the rules are permanently for the future.
The FCA said it would announce whether and how it would proceed with a compensation scheme within six weeks of the judgement.
In February, the Supreme Court rejected an unusual intervention from the government, which was worried huge amounts of redress payments could upset the car market and make it less competitive, as well as making the UK less attractive to investors.
The Treasury has said it wants to see a “balanced judgment” that delivers compensation proportionate to losses that consumers have suffered and allows the motor finance sector to continue supporting millions of motorists to own vehicles.
It has been concerned this case is deterring investment in the UK, and hitting economic growth.
But Bobby Dean, a Liberal Democrat MP and member of the Treasury Committee, who has questioned lenders and others on this topic, said growth was not in competition with fairness and redress for consumers.
“Good regulation can make sure that consumers are protected and have confidence to buy things like car loans and that’s the best thing we can do for the economy,” he said.
We will bring you live reporting of the judgement as soon as we get it followed by expert analysis on what it means for millions of drivers.
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