10
Jun/090

Yes Loans Run on Expired Credit Licence

A recent report on the BBC website uncovered the illegalities of Yes Loans’ operations. Yes Loans are currently the UK largest loan broker (sub-prime) and they have continued to run on an expired credit licence for nearly 12 months.

It is already common knowledge in consumer legal circles that the managing director of the company obtained an exemption from a 10 year ban for “serious misconduct” and now Yes Loans are accused of making it as difficult as possible for consumer to get back what is rightfully theirs. Beit a compensation claim or refund of some description. This is a major breach of consumer regulation and is severely frowned upon.

Related posts:

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  2. Consumer Credit Act 1974 - Explained
  3. £30,000 fine for mortgage broker
  4. Financial Irregularities and Credit Mis-selling
  5. First time buyers need a little help

Filed under: Consumer Credit Licence
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