The ongoing fallout from the UK motor finance scandal is placing severe financial strain on Lloyds Banking Group and Close Brothers, with both lenders announcing that compensation costs will materially
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The chasm between projected car finance compensation costs and current lender provisioning has drawn sharp analysis across the sector. The Financial Conduct Authority anticipates lenders may have to pay between
Lloyds Banking Group has significantly increased its compensation provision for potentially mis-sold motor finance to £1.1 billion following a landmark court ruling, forcing the FTSE 100 lender to set aside
