UK’s Provident Financial to close troubled doorstep-lending arm By Reuters
(Reuters) -Provident Financial on Monday called it quits on its doorstep-lending division, putting 2,100 jobs at risk, as the pandemic hit the last nail on a business that survived the Wall Street crash of 1929 and the global financial crisis. The UK-based company had been trying to revive the unit for years after botching an overhaul of the division in 2017 when it sought to replace its army of self-employed doorstep collection agents with direct employees. "In light of the changing industry and regulatory dynamics in the home-credit sector, as well as shifting customer preferences,...
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