Ombudsman says it is now receiving about 200 such complaints a week, but PPI remains the worst offenderComplaints to the financial ombudsman about payday loans have risen to almost 200 a week – and not all of those experiencing problems necessarily fit the image of low-income borrowers relying on short-term loans to get by.During the second half of 2016 the Financial Ombudsman Service received 5,095 new payday lending complaints, up 22% on the first six months of the year. This increase came despite tougher regulation of the controversial sector. Continue reading…
Source : theguardian.com
Read more…Payday loans complaints rise 22% despite FCA clampdown















