FCA has announced that payday lender CashEuroNet UK LLC (CashEuroNet) has agreed with an FCA review to refund over £1.7 million to almost 4,000 customers. A review of CashEuroNet’s lending decisions when trading as Quick Quid and Pounds to Pocket revealed that some customers were able to borrow amounts greater than they could afford to repay. The firm has now made changes to its lending criteria and has reassessed all loans granted since 1 April 2014 which were in arrears for 30 days or more against the new criteria. As a result the firm identified 3,940 affected customers who will constitute the recipients of redress from this scheme. (Source: CashEuroNet Agrees to FCA Redress Scheme)