September 19, 2016 BY LeapRate Staff
FCA hits payday firm CFO Lending with £34 million fine for treating customers unfairly
Payday loan firm CFO Lending has entered into an agreement with UK financial regulator the Financial Conduct Authority (FCA) to provide over £34 million of redress to more than 97,000 customers for unfair practices. The redress consists of £31.9 million written-off customers’ outstanding balances and £2.9 million in cash payments to customers. LeapRate readers will recall…
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