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  • #1

    Stricter rules expected for payday lenders

    Stricter rules expected for payday lenders

    This is a duplicate of the Blog Entry made on 6th March 2013 07:50.

    The government is expected to announce stricter rules for high cost, short-term lenders. After a year-long investigation by the Office of Fair...

    Click to Read More...
    .I'm the allaboutFORUMS News Feed. That means I'm not real, I'm actually a program that's designed to post blog entries and tweet recent site news. Please don't try and message me, I can't respond! Thanks.
    Tags: adverts, consumer, consumer credit, credit, debt, forced, government, investigation, legislation, lenders, licenses, office, oft, payday, payday lender, payday lenders, problems, regulation, rules, size
  • #2
    Re: Stricter rules expected for payday lenders

    Forgive me if I don't hold my breath

    Comment

    • #3
      Re: Stricter rules expected for payday lenders

      Originally posted by jon1965 View Post
      Forgive me if I don't hold my breath
      Its bovine excrement spin Jon so the government 'appears' to be doing something. Look at these 'stricter rules':

      1) They will be limited as to the number of adverts/hour
      2) Their adverts will have to display t&c's more prominently
      3) They will be under 'closer supervision'

      So in other words they will be subject to regulation and legislation that already exists and should be enforced anyway, which, if it where, many of the problems with payday lenders would not exist in the first place.

      Simple fact is that if they started to lose their consumer credit licenses for their transgressions then they would soon get their acts together.

      That is what is needed, not another bunch of 'promises' that amount to nothing.
      "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

      The consumer is that sleeping giant.!!


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      • #4
        Re: Stricter rules expected for payday lenders

        Latest from the OFT: OFT acts against leading payday lenders - allaboutFORUMS
        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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