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FCA extends Amigo investigation to cover complaint management
The Financial Conduct Authority (FCA) has decided to extend the scope of its current investigation into Amigo’s creditworthiness assessment process.
Senior Journalist covering the Credit Strategy, TRI News and Reward Strategy brands.
Senior Journalist covering the Credit Strategy, TRI News and Reward Strategy brands.
The initial investigation started on 29 May 2020, and it covered the period from 1 November 2018 to date. The probe explored whether creditworthiness assessments were compliant, and the governance and oversight of this process.
The FCA has decided to extend the scope of its investigation so that it can investigate whether Amigo handled complaints appropriately after 20 May 2020.
The FCA will also look at whether Amigo deployed sufficient resource to address complaints in accordance with a voluntary requirement announced on 27 May last year, and the subsequent variation announced on 3 July 2020.
The FCA investigation will consider whether those complaints have been handled appropriately and whether customers have been treated fairly.
Amigo said it will continue to cooperate fully with the FCA.
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