This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

Cash Genie to pay GBP20 million in customer refunds, fee waivers

( July 27, 2015, 10:57 GMT | Official Statement) -- MLex Summary: Cash Genie has settled a UK Financial Conduct Authority complaint over unfair practices, agreeing to pay 10 million pounds in refunds or fee waivers — on top of 10.3 million pounds in past write-offs of fees and interest — to more than 92,000 customers. In 2014, the company reported itself to the authority for charging unfair fees and interest, unauthorized loan refinancing, and unauthorized use of customer information from related payday lenders to take payment for existing Cash Genie loans.Full statement follows:...

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login