# Close Brothers Group PLC joins fellow lenders Barclays and Lloyds Banking Group in deciding against a legal challenge to the UK Financial Conduct Authority's motor finance compensation scheme.

*fintech · news · 2026-04-26 · MarketScreener*

## Key points

- Close Brothers Group has decided not to legally challenge the FCA's motor finance redress scheme.
- Barclays also opted not to challenge the FCA's £9 billion motor finance compensation scheme.
- The FCA reduced its estimate for compensation payouts to £7.5 billion, plus £1.6 billion in scheme costs.
- Some lenders and the Finance & Leasing Association are still considering legal action before the Monday deadline.

**Companies:** Barclays PLC, Lloyds Banking Group PLC, Close Brothers Group PLC
**Countries:** United Kingdom, Spain

[Read the full story on MarketScreener](https://www.marketscreener.com/news/close-brothers-also-declines-to-challenge-car-finance-redress-ce7f59dcdb81f022)

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