The move follows last week's court of appeal ruling that consumers could not have consented to loans that involved "secret" commission payments to brokers and car dealers.
The shock decision has already forced the likes of Close Brothers - which was a defendant in the case - to pause all new lending as it prepares to challenge the judgment in the supreme court.
Lloyds, the biggest motor finance provider among UK high street banks, has continued to issue new loans. But its chief financial officer, William Chalmers, told analysts the bank had had to "adapt quickly" to do so.
It involved immediately cancelling commission payouts to brokers from its Black Horse car finance division, which oversees loans worth £15bn.
Denne historien er fra October 31, 2024-utgaven av The Guardian.
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Denne historien er fra October 31, 2024-utgaven av The Guardian.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Money hacks How to save on winter sports holidays
When it comes to skiing and snowboarding, going to Europe will always be cheaper than flying to somewhere such as the US or Canada - but costs vary massively on the continent.
Scam refund claims
Some victims of bank transfer scams will not get a penny back despite beefed-up rules designed to better protect consumers from fraudsters because several big banks have introduced an excess on refund claims.
Packaged accounts Are the perks worth the money?
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Spain floods force firms to look south for oranges
Some British retailers and wholesalers have been forced to switch to sourcing oranges from South Africa and South America earlier than usual after last month's floods in eastern Spain left farmers struggling to harvest and ship their crops.
Northvolt boss resigns after EV battery firm files for bankruptcy
The chief executive of Northvolt has resigned after the Swedish battery startup filed for bankruptcy protection in the US.
Electric dream sours Carmakers fight strict EV rules as fines loom
When Ford announced this week that it was cutting 800 jobs in the UK, the US carmaker had stern words for the government.
Irish tycoon bids to buy out Yorkshire Post owner
National World, the owner of the Scotsman and Yorkshire Post - and underbidder in the auction for the Telegraph - has received a buyout proposal from largest shareholder.
Bitcoin rises after US SEC chair says he will step down
Cryptocurrencies rose sharply immediately after one of the industry's biggest critics, Gary Gensler, said he would stand down as the head of the US financial regulator when president-elect Donald Trump was inaugurated in January.
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Labour swept to power in the wake of a punishing cost of living crisis that hit households hard, with the price of food and energy rocketing, alongside the impact on mortgage rates of Liz Truss's disastrous mini-budget.
Budget blamed for end to 12 months of expansion as optimism slumps
Labour's first budget in 14 years has been given the \"thumbs down\" by private sector businesses, with Rachel Reeves's measures blamed for the end to a 12-month run of expansion and a fall in retail sales.
