https://birminghamdaily.co.uk/tags/economicimpact/Recent content in economicimpact on Birmingham DailyHugo -- gohugo.ioen-usThu, 30 Apr 2026 04:50:06 +0000https://birminghamdaily.co.uk/lloyds-bank-accepts-fca-motor-finance-redress-triggering-829-customer-payouts/Thu, 30 Apr 2026 04:50:06 +0000https://birminghamdaily.co.uk/lloyds-bank-accepts-fca-motor-finance-redress-triggering-829-customer-payouts/Lloyds Bank has decided not to pursue a legal challenge against the Financial Conduct Authority’s (FCA) £9.1 billion compensation scheme aimed at customers mis-sold car finance agreements. This move clears the way for eligible customers to receive payouts averaging £829, up from earlier estimates of £695. The FCA announced last month that the motor finance industry must compensate consumers after discovering a 17-year practice of poor disclosure regarding commissions and contractual relationships between lenders and car dealerships.