Financial Times has reported that Lloyds Banking Group has opted not to pursue a legal challenge against the UK’s car finance redress scheme, in a move that signals a shift in approach as the industry responds to regulatory pressure. While concerns had previously been raised about the structure of the scheme, the decision removes a potential barrier to its implementation and leaves wider questions around industry impact and next steps still unfolding. Lloyds will not take legal action against UK’s £9bn car finance redress scheme