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Violation Tracker UK Individual Case

Company: Moneybarn Ltd
Current Parent CompanyVanquis Banking Group
Parent at the Time of the Penalty Announcement: Vanquis Banking Group
Recap of Ownership Changes: In 2023 Provident Financial changed its name to Vanquis Banking Group.
Penalty: £2,774,400
Year: 2020
Date: 17 February, 2020
Offence Group: consumer-protection-related offences
Offence Type: consumer protection violation
Violation Description: Moneybarn paid a £2.77 million fine in settlement of a finding by the FCA that the company failed to treat customers fairly when behind with loan repayments and failed to clearly communicate the consequences of repayment plans.
Action Type: agency action
Settlement Type: settlement of FCA Decision
Agency: Financial Conduct Authority
HQ Country of Parent: United Kingdom
Ownership Structure of Parent: publicly traded
Major Industry of Parent: financial services
Specific Industry of Parent: sub-prime lending
Source of Data(click here)