June 1, 2020 / 6:26 AM / a month ago

UK watchdog launches probe into subprime lender Amigo

LONDON, June 1 (Reuters) - The Financial Conduct Authority has launched an investigation into the creditworthiness assessment process of subprime lender Amigo Holdings, the company said on Monday.

The firm said that the investigation began on May 29 and covers the period ranging from November 2018 to the present.

It is looking at “whether or not Amigo’s creditworthiness assessment process, and the governance and oversight of this, was compliant with regulatory requirements,” the statement said. (Reporting by Maiya Keidan# Editing by Rachel Armstrong)

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