Lloyds Bank still in line for big motor finance bill after Barclays outcome, brokers say
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Lloyds Banking Group may face compensation costs of £1-3.5 billion for motor finance loans following a court decision against Barclays. This outcome was anticipated by Jefferies, as judicial reviews rarely oppose the financial ombudsman service.
December 18, 2024 | 12:30 pm
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Barclays lost a court case related to motor finance loans, which was expected by Jefferies due to the high bar for judicial reviews against the FOS.
The court decision against Barclays could negatively impact its stock price as it may lead to financial liabilities and set a precedent for similar cases.
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