Lloyds Boss Warns Car Finance Saga Making UK Banks Less Investable

The boss of Lloyds Banking Group Plc has warned the uncertainty around lawsuits and regulatory probes into motor finance mis-selling is making it difficult for investors to have confidence in British banking, with ripple effects across the economy.

Charlie Nunn said investors had in the past few weeks raised worries about the UK’s lengthy review of car finance commission, after a court ruling that could significantly broaden the scope. The possible impact on the financial services sector, and the nation more broadly, “creates an investability problem,” he said.