Lloyds Banking Assesses Impact of Court Rulings on Motor Commissions

Lloyds Banking (GB:LLOY) has released an update.

Lloyds Banking Group is evaluating the implications of recent Court of Appeal decisions regarding motor commission arrangements, which could impact the disclosure practices of motor dealers acting as credit brokers. The rulings require dealers to inform customers about commissions from lenders, potentially broadening lenders’ liabilities for non-disclosures. The Group is monitoring the situation and will provide updates as necessary.

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