Lloyds to Keep £2 Billion Car Loan Charge After FCA Final Rules

Lloyds Banking Group Plc said it isn’t planning to set aside more money to cover compensation for customers who were missold car loans after a UK watchdog this week unveiled a final industry-wide redress program.

The lender has “now undertaken an assessment of the implications and impact of the final rules” and “does not currently believe any change to the provision for this issue is required,” it said in a statement Thursday. Lloyds has disclosed the largest known provision at almost £2 billion ($2.6 billion).