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Loan provider Amigo censured for adequate affordability checks failings

Two women with mugs and brush, getting ready to paint their home
Photo: amigoloans.co.uk

The FCA found that one in four struggled to make payments and needed their guarantors to step in.

Amigo Loans Ltd, who provides guarantor loans to consumers who may struggle to get loans from traditional lenders, has been publicly censured by the FCA for failing to conduct sufficient checks on borrowers and guarantors.

The FCA found that between November 1, 2018 and March 31, 2020, Amigo failed to

“Amigo failed to assess

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