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Provident Financial is planning to shut its venerable 141-year-old doorstep lending arm after increasing pressure from the regulator. The firm is also set to close its online lending business, Satsuma.
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Moneybarn, the car financing arm of Provident Financial, is facing a £2.8 million fine from the Financial Conduct Authority (FCA).
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Former RBS Edinburgh senior finance manager Neeraj Kapur has been appointed as the new chief financial officer of Provident Financial. Mr Kapur will join the Board and start as chief financial officer on 1 April 2020.
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