Emma RadmoreAmplify Capital (U.K.) Limited, a consumer lender and credit broker which traded as Reevo Money and My Community Finance , has gone into administration with Robert Spence and Gareth Slater of Interpath Advisory appointed as joint administrators.
All loans issued (issued as Reevo Money) remain in place and the administration will not change the status, although of course it of course can no longer provide new loans.
Under the My Community Finance banner, the firm introduced customers to My Community Bank and Castle Community Bank, credit unions that issue loans and saving products. Any products with those entities are similarly unaffected.
The FCA will work with the joint administrators to ensure customers are treated fairly, since the firm is still authorised.