The Competition and Markets Authority has ruled the lack of competition in the payday loans sector:
- Could be responsible for adding £5-£10 to the average cost of a payday loan
- This is relative to a typical loan of £260 taken out for just over three weeks
- A typical customer (who takes out six loans a year) could save £30-£60 per year
- The gap between the cheapest and most expensive deals for a month-long £100 loan is more than £30
More top news
Harry Potter fans have been left sorely disappointed after the slightly misleading hashtag #NewHarryPotterBooks began trending on Twitter.
A couple who were shot in the Tunisia beach attack are raising funds to offer "something back" to the local hospital that treated them.
Two distraught dog owners have been reunited with their beloved pet pooch - seven years after she was stolen from their home.