The Financial Regulator has made a settlement with moneylending company Marlboro Trust Limited following suspected breaches of regulatory rules.
In a statement, the regulator said it suspected that certain credit agreements were in breach of section 30 of the Consumer Credit Act. This section covers the provision of written copies of loan agreements to consumers.
The agreements in question formed part of a book of business bought from an unauthorised credit provider.
The Financial Regulator reprimanded Marlboro Trust, which confirmed that it has stopped collecting repayments under these agreements.
The regulator says Marlboro Trust fully co-operated with the examination and the matter is now closed.
