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Fca To Investigate High Cost Short Term Credit Industry - Latest News

FCA investigation found "serious non-compliance" in all payday firms

In an FCA review of the payday loans industry, the regulator concluded that although ... No firms have perfect systems but, while only high cost short term credit has so far been scrutinised, the rest ... read more

Federal Government Changes Make Equifax A Buy

The Enforcement Division of the FCA has opened an investigation ... There is really no long term risk to its core credit reporting business. Companies just don't really have the option of opting out o... read more

Relief at last from eye-watering overdraft charges? Watchdog probes fees that sting millions every month

It follows a series of recommendations proposed by the Competition and Markets Authority in August as part of its investigation into retail banking. As part of this, the FCA said it is preparing to re... read more

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UK to cap payday lenders' interest charges

Short-term lenders such as Wonga, QuickQuid and Lending Stream have flourished as high ... The FCA will start regulating the industry in April 2014. Government ministers had previously been reluctant ... read more


Financial Conduct Authority

The Financial Conduct Authority (FCA) is planning an investigation into ... supervision of the consumer credit market, including payday firms, from April 1, wants to see whether payday firms and other ... read more

Unbolted Launches as Challenger Brand to UK’s “Out-Dated” Pawn and Secured Lending Industry with New Peer-to-Peer Online Offering

LONDON--(BUSINESS WIRE)--The UK’s pawn industry and short-term secured credit market is set for “a shake ... lending platform that lets consumers use their high-value personal assets to access low-cos... read more

Wonga Crashes To £35m Loss After Torrid Year

The figures will underline the scale of the challenge confronting Wonga as it attempts to secure approval from the City regulator for a new licence as part of a broader overhaul of the industry. The F... read more

Senate Republicans cave in to payday-lending industry

Of course, the industry would like the legislation to simply disappear ... 1 million Ohioans have taken out a payday loan at some point, using the short-term, high-cost credit available to those who n... read more

Payday lenders must put loan info on price comparison websites says CMA

The Competition and Markets Authority made the demand as it published its findings following a 20-month investigation ... lending industry following a crackdown from the Financial Conduct Authority as ... read more

British Regulator Plans New Rules for Payday Lenders

The Financial Conduct Authority, which is set take over regulation of consumer credit firms ... also been examining short-term, payday-style loans. In Britain, short-term, high-cost lending has grown ... read more

2.1 million Britons trapped in overdraft debt

StepChange said overdrafts were designed to be short term but that was not the reality. It spoke up as the FCA and the Bank of England also keep a close eye on unsecured borrowing - on things such as ... read more

Santander Consumer: A 9-Month Review

Cost of funding is raising uncontrollably as interest on RICs is dropping. Finally, we discuss executive shakeups, a near-term catalyst and ... securitizes the higher quality credit, SC is also theref... read more

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