Two firms offering payday loans have had their credit licences revoked after losing an appeal to a First Tier Tribunal. B2B International UK Ltd (‘B2B’) and Loansdirect2u.com.Ltd – both cheque-cashing firms which offered payday loans – saw the Tribunal rule in favour of an OFT decision to remove their credit licences following revelations that Neil Evans, an associate of both companies, had been convicted for offences involving violence and fraud. David Fisher, OFT senior director of consumer credit, said: “We will protect consumers against anyone who fails to disclose relevant information about criminal convictions on their licence applications.” In a separate appeal, the Tribunal also upheld an OFT decision not to licence Hatfield-based business VK Money Lifestyle to provide debt management services. This was because the regulator deemed the licence applicant, Miss Kissias, lacking in the knowledge, experience and skills to run a debt management business......Read more here