Provident Financial PLC FCA investigation into Moneybarn (3627Y)
05 December 2017 - 6:01PM
UK Regulatory
TIDMPFG
RNS Number : 3627Y
Provident Financial PLC
05 December 2017
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) No 596/2014.
Provident Financial plc (the "Company")
5 December 2017
FCA investigation into Moneybarn
Provident 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.
The 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.
The Company will work collaboratively with the FCA to
investigate the remaining concerns and resolve any outstanding
related issues as soon as practicable.
Further to the Company's trading update on 13 October, the
Company intends to make a post-closing trading update in
mid-January.
Enquiries:
Media
Jade Byrne, Provident Financial 01274 351900
Charlie Pretzlik, Nick Cosgrove, Simone Selzer, Brunswick 0207
4045959
providentfinancial@brunswickgroup.com
Investor Relations
Gary Thompson/Vicki Turner, Provident Financial 01274 351900
investors@providentfinancial.com
This information is provided by RNS
The company news service from the London Stock Exchange
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