The body that puts forward the consumer’s point of view in the regulation of financial services has outlined six points to be taken into account by the Financial Services Authority in its Mortgage Market Review (MMR). The Review is aimed at correcting some of the mortgage lending practices that contributed to the financial crisis, and [...]
irresponsible lending
UK first: mortgage firm fined for irresponsible lending
In the first case of its kind, the Financial Services Authority (FSA) has fined DB Mortgages for irresponsible lending practices and unfair treatment of customers in arrears.
The firm is part of the Deutsche Bank Group and in addition to paying an £840,000 penalty is facing a bill of around £1.5 million in compensation to borrowers.
DB’s [...]
