In the News - FSA
FSA warns lenders repossession is 'last resort'
Financial Services regulator the FSA has issued a tough warning to banks and finance companies that repossession should only be used as a last resort if home-owners cannot keep up their loan repayments and interest. The move, which is part of a 'regulatory crackdown' by the FSA, could result in mortgage providers facing large fines or being barred from certain markets if they put undue pressure on struggling borrowers.
(Sources: Guardian.co.uk)
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06-Aug-2008 10:35:32
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