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Payday lender loses its licence after OFT action (MCO Capital Limited)

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  • #1

    Payday lender loses its licence after OFT action (MCO Capital Limited)

    Payday lender loses its licence after OFT action (MCO Capital Limited)

    This is a duplicate of the Blog Entry made on 19th March 2013 12:29.

    Online payday lender, MCO Capital Limited ('MCO'), has had its consumer credit licence revoked by the OFT and from today is no longer permitted to...

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    Tags: action, boiler, boiler room, capital, ccl, consumer, consumer credit, credit, debt, fine, licence, lost, mco, oft, payday, payday lender, size, warning
  • #2
    Re: Payday lender loses its licence after OFT action (MCO Capital Limited)

    half a mil fine pending..... what a shame!
    When Gold isn't enough, there is SA Gold! New to the forum and find the UE route a bit scary? Take a look at my diary here and judge for yourself. I am now saving the money each month that was making little difference to the balance and not a bit of difference to my credit file as a result of finding AAD.


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    • #3
      Re: Payday lender loses its licence after OFT action (MCO Capital Limited)

      Can't say I'm weeping with pity!

      This was inevitable as they lost their license a year ago. I hope that the OFT also do the same to a few others and not try to use this as the warning shot across the bows of the industry which they've been threatening as this company should never have been issued a CCL in the first place.

      It needs a more high profile company to lose its license than a one man and his dog operation running out of a boiler room.
      "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

      The consumer is that sleeping giant.!!


      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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