Picked this up off the back of a Financial Times article, which is paywalled. But it surrounds how the Gov are concerned about the amount of Bounce Back loans Starling has…
Right or wrong, the FCA hasn’t taken any action over lack of checks, nor has the British Business Bank who oversaw the scheme. So, who’s right…?
They have a lot and someone claimed there was little oversight of who was taking them out, so I suppose the taxpayer (as the BBL scheme was backed by HMG)
If it wasn’t for the BBL loans, Starling would also have had to return the £100m in grants they received as several others have done - as they were nowhere close to meeting their targets.