Barclays’ appeal over auto finance claims dismissed, Bloomberg reports

A London judge has dismissed Barclays (BCS)’ appeal over its car loan practices, in a further blow for lenders facing a potential multibillion pound bill from auto finance claims, Bloomberg’s Jonathan Browning reports. Barclays had appealed a ruling that it failed to treat a customer fairly when she bought a used car, with lawyers previously saying that the decision, alongside a separate legal challenge set to go before the Supreme Court, would serve as a template for how future complaints are handled across the U.K. finance industry. The judge on Tuesday dismissed Barclays’ appeal, saying that “The customer’s borrowing costs are increased by the broker’s choice of an elevated interest rate. That is so whether or not, in the self-serving view of the lender and the broker, she is more than compensated for that by other features of the transaction.”