ASTL supports FSA action on bridging lender

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The trade body which represents the majority of UK short-term lenders says that the FSA acted appropriately in fining and banning directors of Bridging Loans Ltd.

A fortnight ago the FSA fined Bridging Loans Ltd £42,000 and its director Joseph Cummings £70,000 for “serious failures relating to lending practices and for failing to treat customers fairly in arrears””.

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