Barclays (BCS) decided not to challenge the Financial Conduct Authority’s motor finance ruling, which could lead to average payouts for drivers of more than GBP 800M, Mark Kleinman of Sky News reports. Barclays has joined Lloyds Banking (LYG) in backing away from a legal challenge, even as other lenders prepare to take action against the FCA before a deadline expires on Monday, Sky adds.
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