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Evening Standard
Evening Standard
Anna Wise

Lloyds sticks to £2bn provision for motor finance compensation

Lloyds FCA Financial Conduct Authority Lloyds Banking Group
Lloyds Banking Group is sticking to a £1.95 billion provision to compensate customers mis-sold a car finance loan (Stefan Rousseau/PA) - (PA Archive)

Lloyds Banking Group is sticking to a £1.95 billion provision to compensate customers mis-sold a car finance loan, having reviewed changes to the financial watchdog’s compensation scheme.

The banking giant said it “does not currently believe any change to the provision for this issue is required” after assessing the Financial Conduct Authority’s (FCA) final rules, which were published on Monday.

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