The regulator has revealed that 10 lenders have exited the payday lending market after it wrote to 50 firms to request they improve their practices. The Office of Fair Trading (OFT) has received responses from 28 of the 50 lenders, with 26 of these providing audited reports as part of its crackdown on the sector. It confirmed that The Payday Loan Company, which trades under several names including Cashnet, and Hamilton Management Services, which trades as Anfield Cheque Cashing Centre, have surrendered their consumer credit licences altogether. Eight of the firms which responded have left payday lending but continue to operate in other business areas that require a licence. The OFT could not name those companies which are still trading....Read more HERE