The Financial Conduct Authority's proposals for a cap on payday lending mean that from January interest and fees on new loans, including those rolled over, must not exceed 0.8% per day of the amount borrowed.
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Scotland Yard said the male youths will appear in custody at Westminster Magistrates' Court on Saturday.
Windy this weekend with gales across northwestern parts of the UK. Rain spreading southeast.
Greater Manchester Police said "inquiries are ongoing to fully understand the circumstances of the incident."