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Lloyds sets aside GBP1.2 billion following car-finance scandal

( February 20, 2025, 11:47 GMT | Official Statement) -- MLex Summary: Lloyds Banking Group has set aside 1.2 billion pounds ($1.6 billion) to cover the potential costs for car-finance redress, with the UK's Supreme Court set to decide in April whether commissions paid from lenders to brokers without informed-customer consent are lawful. "Clearly significant uncertainty remains around the final financial impact. In this context we welcome the expedited Supreme Court hearing," Lloyds said in its 2024 results report, published today.The 2024 results report is attached....

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