Money Shop Owner Faces £15.4m Customer Payout

The owner of high street lender The Money Shop has agreed to refund £15.4m to 147,000 customers after an investigation by the Financial Conduct Authority (FCA). Dollar Financial UK, which also trades as Paydday UK, Payday Express and Ladder Loans, is reimbursing customers who may have been hit by the way it handled affordability checks and debt collection as well as system errors. It has since agreed to make changes to its lending criteria to meet FCA requirements.