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Lloyds faces £66mn car-finance lawsuit from 30,000 consumers

Lloyds Banking Group is gearing up for a lawsuit from more than 30,000 consumers who claim to have been mis-sold car loans, in a sign that they believe that the regulator’s long-awaited redress scheme will favour large banks.

27th Mar

Financial Times

Motor finance compensation scheme set to fuel even more legal action

The City watchdog has revealed its long-awaited motor finance redress scheme, but despite the bill for lenders coming in lower than predicted the scandal is not going away any time soon.

31st Mar

City AM

Lloyds Bank faces £66 million court battle with 30,000 car loan customers

These customers are set to leave the City regulator’s official redress scheme due to fears they will be short changed, reports The Guardian

30th Mar

Birmingham Live

Claims firms unbowed despite FCA threat to consumers going to court

Law firms running motor finance claims have come out swinging in the face of regulators’ threat to their potential clients.

1st Apr

The Law Gazette

Lloyds bank faces £66m court battle with car loan customers

Law firm is preparing claim on behalf of 30,000 consumers who fear the FCA’s redress scheme will shortchange them

27th Mar

The Guardian

Ministers urged to close £2bn tax loophole in car finance scandal

Banks and specialist lenders will not pay tax on compensation payouts, sidestepping 2015 rule

6th Dec

The Guardian