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Office of Fair Trading takes steps to shut Yes Loans

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  • #1

    Office of Fair Trading takes steps to shut Yes Loans

    Office of Fair Trading takes steps to shut Yes Loans

    This is a duplicate of the Blog Entry made on 29th October 2011 08:34.

    The Office of Fair Trading (OFT) is taking steps to close down a company which claims to process thousands of loan applications a week. The BBC has...

    Click to Read More...
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    Tags: applications, bbc, cca, claims, consumer, debt, legislation, loan, loans, low, october, office, oft, penalties, penalty, size
  • #2
    Re: Office of Fair Trading takes steps to shut Yes Loans

    About bloody time as well.....
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    • #3
      Re: Office of Fair Trading takes steps to shut Yes Loans

      Only Minded to Revoke their CCA license so far, so still some ways to go.
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      • #4
        Re: Office of Fair Trading takes steps to shut Yes Loans

        Just one question - why are they not being prosecuted using CPUTR? This seems to me the exact situation it was designed for and a chance to show that the legislation really has got teeth in terms of penalties dished out using it.

        I did hear of one case (the first one I'd heard of) using CPUTR last week on a consumer programme and the penalty was ridiculously low - I would imagine the company to whom it was applied were extremely pleased with the result.

        What is the point in have strong pieces of legislation that when used are used in a toothless way which simply undermines them and makes them a mockery?

        Sorry - can't count - that was more than one question!

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        • #5
          Re: Office of Fair Trading takes steps to shut Yes Loans

          I'll just say one word on post 1 ----- GOOD!


          Garlok

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