Lloyds Banking Group is bracing for a £66 million lawsuit from over 30,000 consumers alleging mis-sold car loans, signaling potential resistance to the Financial Conduct Authority's (FCA) upcoming redress scheme. Law firm Courmacs Legal is filing the claim against Black Horse, Lloyds' car finance arm, seeking damages for historic leasing agreements. The firm, managing the largest caseload from the motor finance scandal, claims the FCA's proposed scheme will 'massively short-change' victims, prompting direct legal action.

This case represents the clearest sign yet that lawyers may bypass the FCA's process, directly pursuing lenders for compensation and potentially prolonging the five-year saga. £66 million is the sought damages, highlighting the scale of the consumer grievance.