Update: Lloyds Banking Group 'Moving Forward' With UK's Motor Finance Redress Scheme
(Updates with the latest stock movement in the last paragraph.)Lloyds Banking Group (LYG) is "moving forward" with the UK Financial Conduct Authority's motor finance redress scheme, a company spokesperson told.The spokesperson also said the company remains disappointed in and continues to disagree with the regulator's findings.In a Friday report, the Financial Times said Lloyds Banking Group previously mulled a legal challenge to the 9-billion-pound ($12.09 billion) car finance redress scheme. The compensation program is for motor finance customers who were treated unfairly between 2007 and 2024, according to the regulator.Shares of Lloyds Banking Group were down 1.4% in recent Monday trading.Price: $5.41, Change: $-0.08, Percent Change: -1.37%