02 November 2016
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Motormile Finance UK, a debt purchase and collections firm, is to write-off the debt of more than 500,000 customers for failures in its due-diligence and collections processes.
According to the Financial Conduct Authority (FCA) Motormile had "inadequate systems and controls over due-diligence". As a result, said the regulator, the firm would write-off £414m of debt where it...
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