The director of a mortgage lender who branded some customers "evil" has been fined £70,000 and banned by the FSA for irresponsible lending and unfair treatment of customers in arrears.
Joseph Cummings, director of Bridging Loans, was guilty of "serious failures" relating to lending practices, the FSA concluded. His company was also fined £42,000. Cummings' handling of customer complaints was one of a number of failings singled out by the regulator. It said in an interview with the FSA, Cummings explained he considered some customers to be "evil" and based his decisions on the "character of the complainants". "Your conduct in this regard created a significant risk that complainants would not be treated fairly," the FSA concluded. The FSA has also banned three othe...
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