CashEuroNet UK will provide £1.7m redress for lending customers more than they could afford to repay
Payday lenders QuickQuid and Pounds to Pocket are to write off more than 2500 loans to customers and refund almost 1500 people who were granted loans they could not afford to repay.
The lenders’ parent company,CashEuroNet UK, has agreed with the City regulator to supply redress worth £1.7m after it found customers were able to borrow amounts greater than they could afford to repay.
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Source: theguardian.com