Topic: This is the most outrageous news story I've ever read
Erik !AltRitexT6 started this discussion 3 years ago #109,192
https://www.bbc.co.uk/news/business-64639550
The irony and double standards are just ridiculous.
Struggling high-cost lender Amigo has been let off a £73m fine because it couldn't afford to pay it.
The Financial Conduct Authority said the firm failed to carry out proper affordability checks on borrowers, leaving many with little chance of being able to repay their loans.
The mis-selling led to Amigo facing a huge compensation bill, which almost caused the company to go bust.
The FCA said a fine would have caused Amigo "serious financial hardship".
So it publicly censured the firm instead.
Amigo said it fully accepted "the lessons that needed to be learnt".
The irony and double standards are just ridiculous.
Struggling high-cost lender Amigo has been let off a £73m fine because it couldn't afford to pay it.
The Financial Conduct Authority said the firm failed to carry out proper affordability checks on borrowers, leaving many with little chance of being able to repay their loans.
The mis-selling led to Amigo facing a huge compensation bill, which almost caused the company to go bust.
The FCA said a fine would have caused Amigo "serious financial hardship".
So it publicly censured the firm instead.
Amigo said it fully accepted "the lessons that needed to be learnt".
Anonymous B joined in and replied with this 3 years ago, 12 hours later[^] [v] #1,221,128
