OFT action on payday loans

The Office of Fair Trading has referred the payday lending industry to the Competition Commission because of concerns it has about "deep-rooted" problems with the way competition works.

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OFT refers payday lending to Competition Commission

Trading watchdog the Office of Fair Trading made the announcement this morning. Credit: Dominic Lipinski/PA Wire

The Office of Fair Trading has referred the payday lending industry to the Competition Commission because of concerns it has about "deep-rooted" problems with the way competition works.

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