Charlie Nunn took the helm at Lloyds in 2021.

The boss of Lloyds Banking Group told has lawmakers there was a “deeply important” investability issue in the financial watchdog’s proposed motor finance redress scheme.

Charlie Nunn said, in a session with the House of Lords Financial Services Regulation Committee on Wednesday, he was “concerned” about investability and sentiment towards the UK following the regulator’s redress.

“Having a scheme like this, that can take away more than 20 years of profitability from the sector, is a really difficult issue for both global companies looking to invest in the UK – and for that matter my investors looking to invest in financial services,” Nunn said.

His remarks came just hours after the Financial Conduct Authority (FCA) extended the deadline

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