Property News · January 2, 2015

Payday loan caps come into force


New regulations introduced by the FCA mean loans will now be capped at 0.8% a day, as over 1 million borrowers benefitWell over a million people will see the cost of their borrowing fall now that new price caps on payday loans have taken effect.However, early indications are that many of the sector’s bigger players will be charging the maximum amount allowed to under the new regime, rather taking the opportunity to set their fees below the cap. Continue reading…

Source : theguardian.com
Read more…Payday loan caps come into force

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