Chancellor Rachel Reeves' intervention in car loans case rejected

Published On Feb 17, 2025, 2:46 PM

Chancellor Rachel Reeves' bid to be involved in a significant court case regarding car loans has been rejected by the UK's Supreme Court. This case will determine whether car loan lenders must disclose their commission clearly. Lenders are appealing a previous ruling that required clearer communication, with concerns this may limit car loan availability. Following the announcement, shares of UK banks, like Lloyds and Close Brothers Group, have dropped significantly.