Regulator to investigate payday loans competition
The Competition and Markets Authority is to investigate potential ways to increase price competition in the payday loans sector.
The Competition and Markets Authority is to investigate potential ways to increase price competition in the payday loans sector.
The Competition and Markets Authority has decided payday loans are more expensive due to a lack of competition in the sector.
ITV News Business Editor Joel Hills reports:
Competition and Markets Authority decides payday loans are more expensive than they should be due to a lack of competition between lenders.
CMA looking at creating independent price comparison website for payday loans and clearer disclosure of charges if loan not repaid on time.
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