Financial regulatory family strengthen Wider Implications Framework
25 January 2022
Regulatory family announce formal agreement for collaboration on matters of common interest.
We are aware that Instant Cash Loans (“ICL”) entered a scheme of arrangement with its creditors (which includes customers and former customers of The Money Shop, Payday Express, Payday UK and Ladder Loans) before it looks to close down the company.
We are aware that Instant Cash Loans (“ICL”) entered into a scheme of arrangement on 9 October 2019 before it looks to close down the company.
Where there is a creditor and court-approved scheme like this one, customers with complaints will be able to make a claim for redress directly through the scheme.
In these circumstances it would not appropriate for us to consider covered complaints against ICL. The exception to this is complaints about pawn-broking, which we understand aren’t affected by the scheme. All other complaints should be referred directly to ICL.
You can find more information on ICL’s website.
Latest news
Financial Ombudsman: Insurance checks needed for e-scooters
13 January 2022
The Financial Ombudsman Service is urging e-scooter owners to check their insurance policies to ensure they are covered if things go wrong.
Update: Information for Amigo customers
21 December 2021
Information for Amigo customers on complaints made to the Financial Ombudsman.