A new crackdown from financial regulators could put a quarter of payday lenders out of business, the head of the Financial Conduct Authority has said.
Martin Wheatley told Radio 4's Today programme:
"I think our processes will force approximately a quarter of the firms out of the industry and that’s a good thing because those are the firms that have poor practices, and for the rest, we want them to improve.”
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The National People's Congress also appointed close Xi ally Wang Qishan to the formerly ceremonial post of vice president.
Highs of 7 Celsius (45F).
The move, which had been expected, was made on the recommendation of FBI disciplinary officials.