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UK debt purchase firm to compensate 500,000 clients, write off US$509 million

LONDON: Motormile Finance UK, a debt purchase and collections company, has been ordered to compensate 500,000 customers and write off 414 million pounds (US$509 million) in debt by the UK markets regulator over historic systems and controls failures. The Financial Conduct Authority (FCA) said on Wednesday that customers, who had been pursued unfairly for debt recovery, would receive 154,000 pounds ...

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