Wonga has been caught out. But why didn’t the regulator act earlier?
If the regulator had been firmer before then some borrowers might not have been treated unfairly.
If the regulator had been firmer before then some borrowers might not have been treated unfairly.
Householders are still relying on the most expensive types of loan, new figures suggest.
Former chief City regulator Hector Sants has introduced a national network of churches, communities and credit unions as an alternative to payday lenders.
Debt, rather than earnings, is being used to cover living costs, writes Carl Packman.
It’s no longer fair for consumers to bear the large, usurious costs associated with loose regulation.
Encouraging the FCA to be even more tougher with the industry is of vital importance.
Harmful debt is not concentrated in one section of the market alone.
A new report has called payday lending the most harmful type of debt that an individual can obtain.
It has been revealed today that around a quarter of payday lenders will exit the market after the Financial Conduct Authority pick-up the baton for consumer credit regulation.
The campaign to tackle the payday lending sector has been gifted another small victory today as the Department for Business, Innovation, and Skills publishes a report calling for more focussed regulatory attention to the sector.