Payday loan investigation launched

The Office of Fair Trading has just launched a new investigation into payday loans. Officials are today writing to all 240 payday firms warning them of bad practices.

The Office of Fair Trading says debt collection and affordability checks are big concern.

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Payday loan inquiry launched

The Office of Fair Trading has launched an investigation into payday loans. Officials are writing to all 240 payday firms, warning them over the use of "aggressive debt collection" methods.