UNITED KINGDOM: OFT acts against leading payday lenders and proposes to refer the sector to Competition Commission

UNITED KINGDOM: OFT acts against leading payday lenders and proposes to refer the sector to Competition Commission

Popis:

(6 March 2013) 

The OFT is giving the leading 50 payday lenders, accounting for 90 per cent of the payday market, 12 weeks to change their business practices or risk losing their licences, after it uncovered evidence of widespread irresponsible lending and failure to comply with the standards required of them.

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