Subprime Lender Struggles After Regulatory Crackdown

Law360, London (August 30, 2019, 3:13 PM BST) -- A subprime lender has warned, in an announcement that prompted its shares to fall by half, that it will take a more conservative approach after a regulatory crackdown on the consumer credit industry.

Amigo, the U.K.’s largest provider of guarantor loans — which allow consumers with low credit scores to get money by asking family or friends to guarantee the debt — said it is expecting a profit slowdown as a result of increasing regulatory obligations and the threat of a no-deal Brexit as Britain moves toward the Oct. 31 deadline for its divorce from the European Union.

“The change in...

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