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Secure Trust

EuropeNews RoundupOnline Lending
·Jan. 16, 2017

UK Challenger Bank Secure Trust Stops Originating Personal Loans

The bank has seen behavior in the unsecured personal loan market getting out of control; lenders are trying to battle each other to offer cheaper loans in an uncertain time; Paul Lynam, chief executive of Secure Trust, said, "The competition becomes excessive; lenders tend to continue to fight for market share, which means lower pricing."; this is not the first time Secure Trust has pulled back on unsecured consumer loans; in 2006 they ceased originations only to come back in 2009.  Source

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