Bank’s chief executive points to rising fraud as it sets aside a further £105m for motor finance compensation
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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This article was originally published by The Guardian and written by Julia Kollewe.
Read original article on The Guardian