{"id":50859,"date":"2026-05-28T12:52:28","date_gmt":"2026-05-28T12:52:28","guid":{"rendered":"https:\/\/www.europesays.com\/britain\/50859\/"},"modified":"2026-05-28T12:52:28","modified_gmt":"2026-05-28T12:52:28","slug":"lloyds-banking-sees-no-need-to-change-motor-finance-provisions-yet","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/britain\/50859\/","title":{"rendered":"Lloyds Banking sees no need to change motor finance provisions yet"},"content":{"rendered":"<p>    <img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/www.europesays.com\/britain\/wp-content\/uploads\/2026\/05\/f5b8c2834ee24a1584e229989f23fdf0.jpeg\" alt=\"Lloyds Banking sees no need to change motor finance provisions yet\" loading=\"eager\" height=\"443\" width=\"960\" class=\"yf-lglytj  loaded\"\/> Lloyds Banking sees no need to change motor finance provisions yet Proactive uses images sourced from Shutterstock      <\/p>\n<p class=\"yf-1fy9kyt\"><a href=\"https:\/\/finance.yahoo.com\/quote\/LLOY.l\" data-ylk=\"slk:Lloyds Banking Group PLC (LSE:LLOY);elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Lloyds Banking Group PLC (LSE&quot;}\" class=\"link \" rel=\"nofollow noopener\" target=\"_blank\">Lloyds Banking Group PLC (LSE:LLOY)<\/a>\u00a0said it &#8220;does not\u00a0currently believe&#8221; it will need to make any change to its provisions for the motor finance compensation scheme, following the final guidance issued by the financial watchdog at the start of the week.<\/p>\n<p class=\"yf-1fy9kyt\">The Financial Conduct Authority <a href=\"https:\/\/www.proactiveinvestors.co.uk\/companies\/news\/1089835\/lloyds-and-close-bros-shares-rise-as-fca-motor-finance-changes-scrutinised-1089835.html\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:said on Monday;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;said on Monday&quot;}\" class=\"link \">said on Monday<\/a> night that\u00a0millions of motor finance customers should receive larger compensation than its previous guidance in October.<\/p>\n<p class=\"yf-1fy9kyt\">Lloyds issued a statement after carrying out an assessment of the implications and impact of the final rules, but said some things\u00a0remained uncertaint, including the rate of customer responses, operational costs and whether any litigation ensues.<\/p>\n<p class=\"yf-1fy9kyt\">&#8220;The ultimate outcome may also differ dependent upon potential actions by various parties, including legal proceedings and complaints,&#8221; the FTSE 100 lender said, adding that it will provide\u00a0an appropriate update with its first quarter results at the end of this month.<\/p>\n<p class=\"yf-1fy9kyt\">It added that it remains committed to ensuring customers receive appropriate and timely compensation.<\/p>\n<p class=\"yf-1fy9kyt\">The FCA&#8217;s final estimate was that an\u00a0average of \u00a3830 compensation would be expected to be paid this year, increased from an expected average \u00a3700 per payout when the regulator\u00a0issued its first calculations last autumn.<\/p>\n<p class=\"yf-1fy9kyt\">The regulator also estimated that 75% of eligible consumers will make a claim, down from 85% in the original consultation.<\/p>\n","protected":false},"excerpt":{"rendered":"Lloyds Banking sees no need to change motor finance provisions yet Proactive uses images sourced from Shutterstock Lloyds&hellip;\n","protected":false},"author":2,"featured_media":50860,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[21256],"tags":[25401,2861,20306,10596],"class_list":["post-50859","post","type-post","status-publish","format-standard","has-post-thumbnail","category-lloyds-banking-group","tag-finance-provisions","tag-lloyds-banking-group","tag-lloyds-banking-group-plc","tag-motor-finance"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/116652300292515006","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/50859","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=50859"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/50859\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/50860"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=50859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=50859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=50859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}