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Amigo Holdings Plc not to offer fresh loans until next year

1 min read | November 04, 2020 10:27 AM GMT | By Team Kalkine Media
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Amigo Holdings Plc (LON:AMGO), the largest provider of guarantor loans in the UK, has decided not to offer any new loans until next year.

  • The subprime lender which had put a brake on new lending after the coronavirus outbreak had received 25,571 customer complaints related to different issues.
  • Financial regulator, Financial Conduct Authority had asked the firm to deal with them within eight weeks, i.e. by 30 October 2020.
  • FCA is also investigating how the firm has been assessing customers’ creditworthiness while offering guarantor loans at an annual interest rate of 49.9 per cent.
  • On 4 November 2020, the stocks of the company slumped by 6.44% from its previous closing, hovering at around GBX 6.25 at 08:13 AM GMT+1.

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