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Phoof... The Piggybank Is Gone...

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Piggybank has gone under... 


Thanks to the Guardian for the article 





PiggyBank owner collapses into administration

The payday lender PiggyBank has collapsed, making it the latest short-term creditor to fail in recent weeks amid a fresh crackdown by the City regulator.

HJS has been appointed to carry out the administration of PiggyBank’s parent company, DJS, leaving about 45,000 customers facing financial uncertainty.

PiggyBank was forced to stop trading in July after the Financial Conduct Authority (FCA) raised concerns about poor affordability checks. The lender, one of the UK’s 10 largest payday operators, was forced to carry out an assessment to make sure it was lending to customers who could pay back their loans.



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