Barclays cuts back risky lending after £228m hit from UK mortgage firm MFS

Bank’s chief executive points to alleged fraud as it sets aside a further £105m for motor finance compensationNils Pratley: Another shadow banking hit – but otherwise, Barclays looks fineBarclays is pulling back from lending to risky borrowers, as its chief executive warned of increasing numbers of fraud cases and the bank took a £228m hit from the failure of a mortgage lender.The mortgage lender Market Financial Solutions (MFS) collapsed in February amid allegations of fraud, and the UK’s financial regulator has since launched an investigation into the scandal. Continue reading...