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Evening Standard
Evening Standard
Anna Wise

Car finance lenders shares rise after industry bill for redress cut by £2bn

Close Brothers Lloyds Barclays FCA BMW MercedesBenz Santander
Limiting what new drivers can do on the road will cut ‘needless deaths’, ministers have been told (Alamy/PA) -

Shares in major motor finance lenders have risen after the UK watchdog finalised its compensation scheme, which has seen the total bill for the industry cut by about £2 billion.

Lloyds Banking Group and Close Brothers were among the lenders to say they were assessing the details of the scheme after several changes were announced.

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