I’m sure that when the new Conservative government does a post-mortem on the effect of the FSA it will find it to be one of the biggest and most useless wastes of money in history.
The truth is that consumers are no better protected than they used to be and it’s up to lenders to inform the police if wrongdoing is suspected.
It’s laughable when the FSA says that it has caught another baddie.
A blind detective with half a brain could catch those who are sanctioned by the regulator. And who authorised them in the first place? Oh yes, the FSA.
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