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Lloyds Banking Group PLC (LSE:LLOY) may be forced to cut in half a £2 billion share buyback next year following last week's adverse Court of Appeal decision on motor finance. The ruling, which found motor dealers had failed to act in the best interest of customers, has led analysts at RBC Capital to revise upward their financial exposure estimates for five banks by almost £1.3 billion, with the...
Forecasts have been increased for potential motor finance impact on Lloyds Banking Group PLC (LSE:LLOY) and other lenders after last week's Court of Appeal judgement, with analysts at RBC Capital saying they expect a delay findings from the regulator. This follows the judgment last Friday where the Court of Appeal ruled that it was unlawful for a motor dealer to receive a commission from a lend...
Lloyds Banking Group PLC (LSE:LLOY) and Close Brothers Group PLC (LSE:CBG) face much greater uncertainty over motor finance lending following the Court of Appeal rulings in three cases on Friday according to Shore Capital. The cases, Hopcraft (v Close Brothers) and Wrench/Johnson (v First Rand Bank / Moto Novo Finance) relate to motor finance commission arrangements notes the broker and could h...
Lloyds Bank has confirmed that a ruling last week over motor loan commissions might mean compensation payments for mis-selling are higher than expected. In a statement today, the bank noted Friday's Court of Appeal decision on the case of Hopcraft and Close Bros relating to motor commission arrangements.
Business confidence has fallen to a four-month low in October as the prospect of a string of tax increases in the upcoming Budget weighed on sentiment. Lloyds Banking Group PLC (LSE:LLOY)'s business barometer showed a three-point drop over the month to 44 on Monday.
Shares in Close Brothers Group PLC (LSE:CBG) and Lloyds Banking Group PLC (LSE:LLOY) tanked as a court of appeal ruled that motor dealers offering loans to customers for car purchases were liable to potential compensation for mis-selling. In the ruling, motor dealers were said to have a fiduciary duty to customers, a decision that prompted Close Bros to say that it would stop new motor finance ...
Shares in Lloyds and Close Brothers Group fell on Friday after London's Court of Appeal ruled that motor finance brokers owe duties to their customers.
UK bank shares, especially Lloyds Banking Group PLC (LSE:LLOY) and NatWest Group PLC (LSE:NWG), have "still more to go" once this round of earnings and next week's Budget are out of the way. That is the view of Deutsche Bank, where analysts hiked share price targets across the FTSE 100 lenders, with the Lloyds Banking target lifted to 83p from 64p (last close at 62p) and NatWest to 460p from 35...
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