Barclays cuts back risky lending after £228m hit from UK mortgage firm MFS
Bank’s chief executive points to rising fraud as it sets aside a further £105m for motor finance compensation Business live – latest updates Barclays is pulling back from lending to risky borrowers, as its chief executive warned of increasing numbers of fraud cases and the bank took a £228m hit from the failure of a mortgage lender. The mortgage lender Market Financial Solutions (MFS) collapsed in February amid allegations of fraud and the UK’s financial regulator has since launched an investiga
Bank’s chief executive points to alleged fraud as it sets aside a further £105m for motor finance compensation
Business live – latest updates
Barclays is pulling back from lending to risky borrowers, as its chief executive warned of increasing numbers of fraud cases and the bank took a £228m hit from the failure of a mortgage lender.
The mortgage lender Market Financial Solutions (MFS) collapsed in February amid allegations of fraud, and the UK’s financial regulator has since launched an investigation into the scandal.
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