Watchdog imposes £2.8m fine on lender

The UK financial watchdog has imposed a fine of £2.8m on Provident Financial’s vehicle financing arm Moneybarn, which has paid more than £30m in redress to borrowers.

The fine followed a finding by the Financial Conduct Authority (FCA) that Moneybarn did not treat customers fairly when they fell behind with loan repayments due to financial difficulties between April 2014 and October 2017.

Mark Steward, executive director of enforcement and market oversight at the...
source: Yorkshire Post

2020-02-17 19:14
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