Lloyds CEO and director argue burden of proof for harm from undisclosed commissions on lenders.

From Yahoo Finance: 2025-05-22 09:45:00

Lloyds CEO Charlie Nunn claims no harm was done to consumers through Black Horse motor finance, citing low interest rates. Director Julian Rose agrees, stating customers likely wouldn’t have found better deals elsewhere. However, he argues the burden of proof lies with lenders to show no harm was caused by undisclosed commissions.

Rose insists lenders must prove rates were competitive and fair to avoid compensation payouts. He questions if firms have the data and systems in place to demonstrate no harm occurred due to lack of disclosure. Compliance and underwriting teams at lending institutions now face the challenge of meeting this burden of proof.



Read more at Yahoo Finance: burden of proof lies with lenders, not customers