Policymakers have demonstrated a lack of understanding when it comes to payday advance lending firms, according to a recent research study from the Consumer Finance Association that found customer satisfaction rates are high.
Payday lenders a minor player in Brits’ overall debt burden
Brits collectively owe nearly sixty billion pounds and, for once, payday loans companies can hardly be blamed as most of the debt is owed to a variety of sources and just a “smattering” to them.
Survey on payday loans borrowers causes controversy
A new survey conducted by YouGov, an international research company, into the attitudes and opinions of people who were or have been payday loans borrowers has caused something of a stir amongst those most passionately involved in the debate about the role of payday loans companies.
Instant cash loans go from rarely used to common
Instant cash loans supplied by payday lenders, which were once only rarely used, have since become a common occurrence, leading to serious problems for many who have found themselves falling deep into unmanageable levels of debt, experts say.
OFT to lose credit regulation to a new body
The Financial Services Bill which has just had its first reading in parliament will see the creation of a new regulatory body to replace the old Financial Services Authority as well as replacing some of the powers of the Office of Fair Trading.
Payday loan provider paying customers to advertise
One payday loan provider has begun to pay its own customers to market its short term loans to their Facebook friends, even though the interest rates charged by the lender are in excess of 20 times what it would cost a borrower if they used a typical credit card.
Survey reveals reasons why payday loans come in handy
A surprising revelation from an unexpected source helps to illustrate why so many people are turning to sources of easily available credit like payday loans to get by from one day to the next.
Will clause 22 of the Financial Services Bill calm the perfect storm?
The “perfect storm” is one of Ms Stella Creasy’s phrases that has been bandied out quite a bit of late by the Labour MP for Walthamstow in what has become a personal crusade against what she sees as “toxic” payday loans companies.
Wood Green to be site of protest today
Wood Green is to be the site of a protest today aimed to shame money shops offering no credit check payday loans to local residents, it has been recently revealed.
UK payday loans debate continue
There seems to be still considerable debate about whether the recent attempts by the government and the industry associations that represent the payday loans sector will be able to come to an agreement on what is acceptable practice by the industry as a whole.