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25/11/2013
Govt Introduce Cap On Cost Of Payday Loans
A new cap on the cost of payday loans is to be introduced, the government have announced.
The new industry regulator, the Financial Conduct Authority (FCA) will decide the final level of the cap.
It is understood that the new cap is to be included in the Banking Reform Bill, which is already making its way through Parliament.
Critics of the move however have warned that such a cap could restrict credit and encourage more illegal lending.
(MH/CD)
The new industry regulator, the Financial Conduct Authority (FCA) will decide the final level of the cap.
It is understood that the new cap is to be included in the Banking Reform Bill, which is already making its way through Parliament.
Critics of the move however have warned that such a cap could restrict credit and encourage more illegal lending.
(MH/CD)
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20 March 2006
Plans to ban 'secret' party loans
Secret loans to political parties could be outlawed under new legislation proposed by the Lord Chancellor as the row over the 'cash-for-peerages' scandal continues. Lord Falconer has suggested that a ban should be introduced to the Electoral Administration Bill which is currently going through Parliament.
Plans to ban 'secret' party loans
Secret loans to political parties could be outlawed under new legislation proposed by the Lord Chancellor as the row over the 'cash-for-peerages' scandal continues. Lord Falconer has suggested that a ban should be introduced to the Electoral Administration Bill which is currently going through Parliament.
02 September 2014
Increase In People Struggling With Payday Loans
The number of people struggling with payday loans is increasing, according to debt charity StepChange. In the first six months of 2014 the charity helped almost 13,000 more people with payday loan debts than in the same period last year.
Increase In People Struggling With Payday Loans
The number of people struggling with payday loans is increasing, according to debt charity StepChange. In the first six months of 2014 the charity helped almost 13,000 more people with payday loan debts than in the same period last year.
07 December 2011
Payday Loans Make Situation Worse, Says Report
Half of those taking high interest, short-term payday loans have reported it made their situation worse, according to a study published on Wednesday. The research from insolvency trade body R3 found that of those who had taken out a payday loan, 60% regret the decision and 48% believe the loan has made their financial situation worse.
Payday Loans Make Situation Worse, Says Report
Half of those taking high interest, short-term payday loans have reported it made their situation worse, according to a study published on Wednesday. The research from insolvency trade body R3 found that of those who had taken out a payday loan, 60% regret the decision and 48% believe the loan has made their financial situation worse.
25 October 2011
Payday Loans Fuel UK Debt Problems Says Charity
Payday loans providing people with last minute cash before their pay check arrives is fuelling consumer debt problems, according to research by a debt charity. The survey by the Debt Advice Foundation (DAF) found 41% of those struggling with debt are saying their financial problems are the result of high-interest ‘payday’ lending schemes.
Payday Loans Fuel UK Debt Problems Says Charity
Payday loans providing people with last minute cash before their pay check arrives is fuelling consumer debt problems, according to research by a debt charity. The survey by the Debt Advice Foundation (DAF) found 41% of those struggling with debt are saying their financial problems are the result of high-interest ‘payday’ lending schemes.
11 November 2014
FCA Introduce Caps On Payday Loan Charges
The financial regulator has announced a series of caps on charges used by payday loan firms. The caps, introduced by the Financial Conduct Authority (FCA), include: • 0.8% per day interest – lenders cannot charge more than 0.8% interest on a loan.
FCA Introduce Caps On Payday Loan Charges
The financial regulator has announced a series of caps on charges used by payday loan firms. The caps, introduced by the Financial Conduct Authority (FCA), include: • 0.8% per day interest – lenders cannot charge more than 0.8% interest on a loan.
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