Amigo Holdings controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
Back to profile4 entries
2023
FCA censure over lending assessments
The FCA censured Amigo Loans Ltd for failures in assessing borrower and guarantor circumstances between November 2018 and March 2020. A proposed £72.9 million fine was waived because it could have endangered the company's ability to fund redress.
2021
First compensation scheme rejected
The High Court rejected an initial scheme intended to cap customer compensation after the FCA argued that the arrangement was unfair to customers and offered excessive protection to shareholders.
2019
Affordability-check complaints
Amigo faced customer complaints and regulatory scrutiny over allegations that it had failed to assess adequately whether borrowers and guarantors could afford loan repayments.
2016
County court claim concerning loan agreement
In a Redhill County Court case, a defendant successfully defended a claim of approximately £5,000 after arguing that she had not received a copy of the loan agreement.