The home loans torment watchdogs failed to stem | Mail Online
The Financial Services Authority fined mortgage company Swift 1st £630,000 earlier this month and ordered it to compensate borrowers with £2 million of refunds.
It was the fifth sub-prime lender so far to be fined for the same wrongdoing. The lenders had unfairly charged borrowers who were in arrears, said the watchdog.
Although five businesses have been fined, there are others whose practices appear similarly harsh but which have yet to be censured.
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