Lloyds shareholders could take £1bn hit over car finance crisis

Analysts forecast bank will have to halve £2bn buyback plan, as ex-boss of City regulator blames watchdog for crisisLloyds Banking Group could give almost £1bn less to shareholders this year as a result of the car finance crisis, analysts have said, as the City regulator’s former boss blamed the watchdog for the chaos.The estimated size of a multibillion-pound compensation bill for motor lenders has grown after a shock court of appeal ruling last Friday, which said customers could not consent to motor loans that involved “secret commission” payments to brokers and car dealerships. Continue reading...