Op risk data: Lloyds lurches over £450m motor finance speed bump
Also: JPM trips up on trade surveillance; Reg Best Interest starts to bite. Data by ORX News
Lloyds Banking Group tops the list of February losses with its provision of £450 million ($568.1 million) against the impact of a UK Financial Conduct Authority review of historic motor finance commissions. This may not be the final loss amount, as chief executive Charlie Nunn has acknowledged. Indeed, high-profile UK consumer rights advocate Martin Lewis believes motor finance commissions could become a major battleground between banks and consumers – potentially similar to the payment
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