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Doorstep loan provider warns clients rise in mis-selling claims will break company

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Doorstep loan provider warns clients rise in mis-selling claims will break company

Provident Financial demands big decrease payment re re re payments and reveals FCA investigation

Provident Financial mind office in Bradford, western Yorkshire. Provident additionally runs the charge card company Vanquis Bank together with sub-prime vehicle loan provider Moneybarn. Photograph: Gabriel Szabo/Guzelian/Provident speedyloan.net/payday-loans-nh/ Financial

Provident Financial mind workplace in Bradford, western Yorkshire. Provident additionally runs the bank card company Vanquis Bank therefore the sub-prime vehicle lender Moneybarn. Photograph: Gabriel Szabo/Guzelian/Provident Financial

Provident Financial has written to 4.3 million clients warning that its credit rating unit could collapse into management unless they consent to a reduction that is sharp payment re payments for mis-selling.

The home loan provider additionally unveiled it had been dealing with a regulatory research by the Financial Conduct Authority as a string of dilemmas including whether it completed appropriate affordability checks before lending to borrowers.

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