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Moody’s, the credit ratings agency, predicted the court ruling could leave banks on the hook for as much as £30 billion in consumer redress.
The October judgment came as a “considerable surprise” to lenders, according to permission to appeal documents filed with the Supreme Court — the U.K.’s top court — on behalf of the banks FirstRand and Close Brothers, and seen by POLITICO.
Their challenge, submitted by law firm…
