Business
FCA investigation into Moneybarn
FCA investigation into Moneybarn.
About this update from Vanquis Banking Group Plc
[{"type":"text","content":"\n \nRNS Number : 3627Y Provident Financial PLC 05 December 2017 \n\nThis announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014.\n \nProvident Financial plc (the \"Company\")\n5 December 2017\nFCA investigation into Moneybarn\n \nProvident Financial plc (the \"Company\") has been informed that the Financial Conduct Authority (FCA) has commenced an investigation into Moneybarn in relation to the processes applied to customer affordability assessments for vehicle finance and the treatment of customers in financial difficulties.\nThe Provident Financial Group aims to act responsibly in all its relationships, and to play a positive role in the communities it serves. The FCA granted Moneybarn authorisation to conduct consumer credit activities on 3 June 2016 and since that date the FCA has continued to discuss certain processes with Moneybarn and Moneybarn has made a number of process improvements, including to the way it deals with future loan terminations.\nThe Company will work collaboratively with the FCA to investigate the remaining concerns and resolve any outstanding related issues as soon as practicable.\nFurther to the Company's trading update on 13 October, the Company intends to make a post-closing trading update in mid-January.\n \nEnquiries:\n \nMedia \nJade Byrne, Provident Financial 01274 351900 \nCharlie Pretzlik, Nick Cosgrove, Simone Selzer, Brunswick 0207 4045959 \[email protected] \n \nInvestor Relations \nGary Thompson/Vicki Turner, Provident Financial 01274 351900 \[email protected] \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCTIBJTMBJMTMR\n ","length":2991,"tagName":"div"}]