24 h. ago Lloyds shares flat despite 36% profit slide on car finance scandal in ‘quarter to forget’

“This has turned out to be something of a quarter to forget for Lloyds” – Richard Hunter, Interactive Investor

Economics

24 h. ago Lloyds mulls legal action over £11bn car finance scandal payout proposals

Lloyds saw earnings plunge 36 per cent over the last quarter after the lender ramped-up cash set aside for payouts related to the car finance commissions scandal.

Economics

47 h. ago FTSE 100 Live 22 October: Inflation surprise lifts stocks, Barclays rallies despite car loans redress

Rachel Reeves was handed a pre-Budget boost today as the rate of inflation unexpectedly remained unchanged at 3.8% in September.

Economics

49 h. ago FTSE 100 Live 22 October: Inflation surprise lifts index, Barclays rallies despite car loans impact

Rachel Reeves was handed a pre-Budget boost today as the rate of inflation unexpectedly remained unchanged at 3.8% in September.

Economics

50 h. ago Barclays earnings dip after raising car finance compensation bill to £325m

The banking group made a pre-tax profit of £2.1 billion for the third quarter, between July and September, down 7% on the prior year.

Economics

50 h. ago Barclays profits fall as bank sets aside further £235mn for car finance payouts

London-listed bank announces £500mn share buyback and slightly increases 2025 guidance

Economics

50 h. ago Barclays suffers £110mn hit from Tricolor collapse as bank’s profits fall

London-listed lender announces £500mn share buyback even as it sets aside further £235mn for UK car finance payouts

Economics

4 d. ago More banks hit out at £11billion car finance compensation plan

Both Bank of Ireland and Secure Trust Bank were also forced to significantly ramp up provisions set aside for compensation.

Economics

6 d. ago UK banks in ‘eye of the storm’ amid US credit jitters and car finance payouts

Shares in British banking giants were falling on Friday, weighing on the UK’s FTSE 100 index.

Economics

8 d. ago New Martin Lewis update on £700 car loan compensation due next year

Around 14 million people have been mis-sold car finance and due a payout from a mass redress scheme.

Economics

9 d. ago The outrageous reason why millions of victims of the car finance scandal may be unable to claim payouts

Millions of car loan customers unwittingly paid commission to car dealership salesmen through higher interest borrowing charges.

Economics

9 d. ago Close Brothers issues major update on expected car finance compensation bill

It comes a day after Lloyds Banking Group announced they would be challenging the proposed scheme

Economics

1 week ago Car finance compensation explained as millions of Brits could be owed money

Millions of drivers could be due an average of 700 each after the Financial Conduct Authority said it will set up a compensation scheme for those who may have been mis-sold car finance

Economics

1 week ago Lloyds Bank to challenge car finance compensation scheme after £2bn estimation

The financial services company is pushing for a fairer redress system

Economics

1 week ago Lloyds warns car finance compensation could cost it nearly £2bn due to historic cases

Most of the car finance deals covered by the FCA’s scheme involve DCAs

Economics

1 week ago Lloyds hikes cash set aside for car finance scandal payouts to £2BN

Lloyds on Monday said it would raise its concerns with the Financial Conduct Authority as it ramped-up provisions for potential costs by £800million.

Economics

1 week ago FTSE 100 Live 13 October: Lloyds lifts car finance provision, mortgage rates rise

Lloyds Banking Group today made a big increase to the amount it will need to cover motor finance mis-selling compensation.

Economics

1 week ago Lloyds warns car finance compensation scheme could cost it nearly £2bn

The banking group said it was expecting there to be a higher number of historical motor finance agreements that are eligible for redress.

Economics

1 week ago Car finance compensation explained as millions of drivers owed £700

Consumer champion Martyn James explains everything you need to know about the car finance scandal, as millions of drivers are owed compensation

Economics

1 week ago 7 tips to keep your car running in winter and avoid £2,500 fine

MoneyMagpie Editor and financial expert Vicky Parry shares top tips to keep car costs low and avoid unexpected fines

Economics