FSA censures credit union for £1.2m of illegal loans to church

FSA censures credit union for £1.2m of illegal loans to church

The Financial Services Authority (FSA) has publicly censured The Pentecostal Credit Union (TPCU) for issuing loans worth £1.2m under its members’ names but channelling the money to a Church Organisation.

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Dean Smith is a mortgage specialist who works in the London area.

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