The UK’s biggest banks are gearing up for yet another fight with regulators over how they’ll compensate consumers who were missold car loans — even after they set aside an additional £1.5 billion to resolve the saga in recent weeks.
Barclays Plc on Wednesday said it had roughly quadrupled the amount of cash it has set aside to compensate customers who were impacted by the scandal. One day later, Lloyds Banking Group Plc saw its pre-tax profit in the third quarter slump 36% because of an additional £800 million charge tied to the matter.