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Evening Standard

Business

Simon Hunt

Doorstep lender Morses Club sinks to £43m loss as claims surge from borrowers

FCA

The FCA conducted a review into relending by high-cost lenders which it sounded the alarm over loans customers managing their debt repayments by taking out additional loans. (Dominic Lipinski/PA)
(Picture: PA Archive)

Doorstep lender Morses Club has posted a £43 million loss after being flooded with claims from borrowers over “unaffordable” lending.

The claims surge follows a clampdown by the Financial Conduct Authority on subprime lenders that it said do not treat customers fairly.

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