Subprime Lender Under Pressure To Clear Complaints Backlog

Law360, London (June 23, 2020, 12:27 PM BST) -- Subprime lender Amigo has said it is facing pressure from the Financial Conduct Authority to clear a backlog of 9,000 complaints from unhappy customers as it grapples with a "substantial increase" in fresh cases.

Amigo Holdings PLC had entered into an agreement with the City watchdog to resolve the existing complaints by Friday. But the guarantor loan company, which is listed on the London Stock Exchange, said Monday that it is in talks with the FCA to push this deadline back because it has been hit with an influx of new complaints since June.

"Amigo has continued to see a substantial...

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