Moneybarn to pay £33m in fines and compensation

Payday loans

Car lender accused by FCA of serious breaches when dealing with vulnerable customers

Moneybarn is to pay nearly £33m in fines and customer compensation after the City regulator found serious breaches in the way the subprime car lender treated vulnerable customers.

The Financial Conduct Authority, which fined Moneybarn £2.77m, said the company had not treated customers fairly when they fell behind on repayments.

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