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BrightHouse rent-to-own firm pays £14.8m in redress

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Rent-to-own retailer BrightHouse has been told to pay £14.8m to 249,000 customers by the financial regulator, the Financial Conduct Authority (FCA).

BrightHouse will compensate customers who had cancelled agreements after one downpayment but had not been refunded.

It will also make payments to those who signed up to lending agreements that "may not have been affordable".

 

The FCA said BrightHouse had not acted as a "responsible lender".

 

 

http://www.bbc.co.uk/news/business-41732865


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BrightHouse to pay back £14.8m to customers - what you need to know

 

http://www.manchestereveningnews.co.uk/news/greater-manchester-news/brighthouse-refunds-compensation-customers-consumer-13803134#ICID=ios_MENNewsApp_AppShare_Click_Other

 

 

 

Another link to this here

 

 

Will be getting my pen n paper back out for this.


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Following engagement with the FCA, BrightHouse has committed to pay over £14.8 million (in the form of cash payments and balance adjustments) to 249,000 customers in respect of 384,000 agreements for lending which may not have been affordable and payments which should have been refunded.

 

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About time too.


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Why has the FCA taken this long to fine them.This has been happening for years

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