LONDON, Oct 7 (Reuters) - Britain's motor finance

industry is on the hook for an estimated 8.2 billion to 9.7

billion pounds ($11 billion-$13 billion) to compensate consumers

for unfair car loans under proposals outlined by the financial

regulator on Tuesday.

In a long-awaited consultation that provides greater clarity

about the costs and scope of a redress scheme, the Financial

Conduct Authority (FCA) said consumers in Britain who fell

victim to motor finance mis-selling between 2007 and 2024 could

be eligible for around 700 pounds in compensation on average.

($1 = 0.7440 pounds)