The Chancellor of the Exchequer announced that the government will definitely be introducing legislation to cap the instant payday loans in the payday industry. 2014 will see the Financial Conduct Authority (FCA) taking over regulation of the payday sector. A cap on lending as well as controls on charges, interest rates and penalty fines are […]
Monthly Archives: January 2014
Payday Loans facts and figures
Payday Loans Payday loans are supposed to be short term, easy to obtain credit that should be paid back within a month at the most. Hence the name ‘Payday’. Payday lenders offer the public small loans to tide them over until they get their next paycheck. They do charge a hefty interest rate and there […]