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Amigo Loans avoids GBP73 million fine by evidence of financial hardship

By Phoebe Seers ( February 14, 2023, 15:33 GMT | Insight) -- Sub-prime lender Amigo has avoided a 72.9 million-pound fine because it submitted evidence of financial hardship to the UK’s financial watchdog. The FCA said Amigo, which deleted email accounts of relevant staff pending its investigation, was overly focused on profit and heavily reliant on automated systems for approving loans. Sub-prime lender Amigo Loans has avoided a 72.9 million-pound fine ($88.8 million) because it submitted evidence of financial hardship to the UK’s financial watchdog....

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