Bank’s profits rise 57% but it says there is ‘significant uncertainty’ over liability amid FCA investigation
Business live – latest updates
Lloyds Banking Group has been forced to put aside £450m for potential fines and compensation to borrowers, after the UK regulator opened an investigation into whether consumers had been charged inflated prices for car loans.
The figure falls far short of some analyst estimates, which suggest the investigation into loan and commission arrangements struck between 2007 and 2021 could end up costing Lloyds upwards of £2bn.
Continue reading…Bank’s profits rise 57% but it says there is ‘significant uncertainty’ over liability amid FCA investigationBusiness live – latest updatesLloyds Banking Group has been forced to put aside £450m for potential fines and compensation to borrowers, after the UK regulator opened an investigation into whether consumers had been charged inflated prices for car loans.The figure falls far short of some analyst estimates, which suggest the investigation into loan and commission arrangements struck between 2007 and 2021 could end up costing Lloyds upwards of £2bn. Continue reading…