8 h. ago Lloyds challenges car loan compensation bill as it warns of £2bn hit

The high street banking giant raised concerns about the Financial Conduct Authority’s calculations for how much consumers lost out.

Events

8 h. ago Lloyds Bank to challenge car finance compensation scheme after £2bn estimation

The financial services company is pushing for a fairer redress system

Economics

9 h. 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

11 h. 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

4 d. ago Lenders warn of bigger hit to finances from £11bn car loan compensation plan

Lloyds Banking Group and Close Brothers both said they were expecting to have to put aside more money to cover costs related to the mis-selling saga.

Events

4 d. ago FTSE 100 Live 09 October: HSBC and Lloyds weigh on index, top banker issues warning

Lloyds Banking Group today warned an additional provision in relation to motor finance mis-selling compensation may be material.

Events

4 d. ago Lloyds admits £1.2bn set aside for car finance compensation may not be enough

Lloyds Banking Group has warned the £1.2billion it has set aside for potential compensation payouts related the motor finance commissions scandal may not be enough.

Economics

4 d. ago FTSE 100 Live 09 October: Lloyds falls on motor finance warning, index dips from record

Lloyds Banking Group today warned an additional provision in relation to motor finance mis-selling compensation may be material.

Events

4 d. ago Banking shares rise after car loan scandal firms are handed a lower

FTSE 250 lender Close Brothers closed up 5.4% while Lloyds Banking Group gained 3.7% and Barclays rose 1.1%.

Economics

5 d. ago Martin Lewis tells Brits how to get up to £700 car finance compensation

FCA announced a redress scheme for car finance customers who were mis-sold their loan and Martin Lewis has explained how to claim the compensation

Economics

5 d. ago FTSE 100 Live 08 October: Lloyds rallies on car loan update, index and gold at record

Lloyds Banking Group shares today rose during a record-breaking session for the FTSE 100 index.

Politics

5 d. ago Shares in UK lenders rise after watchdog softens car loan compensation costs

Lloyds Banking Group, Close Brothers Group, and Barclays shares were all moving higher on Wednesday morning.

Politics

5 d. ago Martin Lewis says people can hope to get £700 in their bank accounts if they do this one thing

The Financial Conduct Authority (FCA) announced 14 million car finance deals included a discretionary commission arrangement (DCA) in the loan contract, which people were unaware of, and may entitle you to compensation

Economics

5 d. ago FCA announces 14 million people due car loan compensation payout

Redress payments of around £700 could be issued from early next year.

Economics

6 d. ago Up to 14m car loan scandal victims in line for average £700 payout, City regulator announces

City regulator unveils compensation scheme for motorists who bought cars via discretionary commission deals from 2007 to 2024Victims of the UK’s car finance scandal are likely to receive compensation payouts averaging £700 resulting from 14m unfair loans, the City regulator said on Tuesday.The payouts would be less than previously expected, but the Financial Conduct Authority (FCA) said lenders could be landed with an £8.2bn compensation bill, which could go as high as £9.7bn. Continue reading...

Economics

7 d. ago Jefferies earned undisclosed fees on First Brands ‘side letter’ financing

Lenders to bankrupt car parts group believe arrangement may have breached loan covenant

Economics

7 d. ago Reeves's Budget 'to loosen planning rules and mount £2bn tax raid on banks as well as raising VAT' in desperate attempt to balance the books

The Chancellor is scrambling to fill an estimated £30billion black hole in the public finances before she presents her next tax and spend package on 26 November.

Economics

7 d. ago Rachel Reeves 'to loosen planning rules again and hit banks for £2bn' as she scrambles to balance the books at her Budget

The Chancellor is scrambling to fill an estimated £30billion black hole in the public finances before she presents her next tax and spend package on 26 November.

Economics

7 d. ago FCA’s multibillion car loan redress estimate is too high, say lenders

Watchdog believes motorists mis-sold auto finance could get payouts totalling up to £18bn

Politics

2 w. ago Huge £1.5billion lifeline for firms hit by crisis at Jaguar Land Rover in bid to save thousands of jobs

Business and Trade Secretary Peter Kyle announced a loan guarantee scheme to keep afloat small firms that supply the car maker and employ 120,000 people.

Economics