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The Independent UK

Business

Anna Wise

Lloyds warns car finance compensation could cost it nearly £2bn due to historic cases

Lloyds FCA Lloyds Banking Group

Lloyds Banking Group - (PA Archive)

Lloyds Banking Group estimates its potential liability for the car finance compensation scheme could reach nearly £2 billion, after setting aside an additional £800 million.

The banking giant plans to challenge the watchdog’s proposed scheme, believing it overestimates the compensation customers are owed.

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