Vacuum Co. Loses Financing Dust-Up With FCA

Law360, London (January 28, 2020, 2:30 PM GMT) -- A vacuum company has been stripped of its ability to finance purchases by consumers after losing a legal challenge with the Financial Conduct Authority over "high-pressure" sales tactics that allegedly persuaded vulnerable customers to make credit arrangements they could not afford. 

The FCA said Tuesday that P.F International Ltd. has lost an appeal before the Upper Tribunal challenging the agency's decision to crack down on the company's financing arrangements.

The regional vacuum dealer and service company cold-called consumers, going door-to-door to sell equipment through finance deals, the FCA said in a statement. The company, based in Bristol in western England, used...

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