THE BOSS of one of the
Smith unexpectedly left the lender yesterday while
The saga sent AIM-listed
Smith's actions are expected to catch the eye of the
A spokesperson for the
Company executives are prohibited from leveraging inside information about their business to guide their actions in financial markets.
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Its products are extremely expensive as they take into account the higher risk of lending to borrowers which are more likely to default.
Interest rates can rise to as much as 498 per cent.
The high-cost credit sector has come under intensifying scrutiny recently due to customers lodging complaints over being mis-sold loans.
Amigo Loans, the guarantor lender, has been besieged by a wave of historic customers seeking compensation for alleged misselling. Provident Financial left the doorstep lending market altogether last year.
The company did not specify why Smith, who led the firm before the listing, had left his role.
(c) 2022 City A.M., source