On 2 January 2015 the Financial Conduct Authority introduced tough controls that are new payday lending. We worked closely aided by the FCA on these modifications and welcome the protection they feature to susceptible borrowers.
Because the regulator toughened its stance, we’ve seen difficulties with pay day loans fall 45 %. As they modifications are implemented, nonetheless, it’s important that regulators are vigilant to your risk that the issues linked with pay day loans merely move somewhere else.
A challenge provided? [ 0.65 mb] may be the very first in a few briefings in the credit items that surround loans that are payday checking out the instance for further improvements to consumer security. Continue reading “A problem provided? Checking out the marketplace for guarantor loans”