Consumer groups urge Coalition to crack down on dodgy payday lenders

Ongoing delays prompt warning that predatory behaviour continues to force the vulnerable into debt spiralThe Coalition insists it is progressing new laws to crack down on dodgy payday lenders as consumer advocacy groups warn ongoing delays will see mor…

Read more

Expand credit unions as alternative to payday lenders, FCA urges

Non-profit cooperatives should be encouraged to disrupt high-cost lenders, says regulatorThe financial regulator is calling for a government review of credit union rules to give vulnerable consumers a viable alternative to payday lenders.The Financial …

Read more

UK’s problem debtors to get 60-day ‘breathing space’

Treasury unveils two months free of hassle from creditors with interest and fees frozen to help control financesPeople struggling with serious debt are to benefit from a new two-month “breathing space” during which they cannot be hassled by debt collec…

Read more

Payday lenders being ‘bombarded’ by spurious claims

Compensation firms said to be looking for next big earner after PPI claims expireCompensation claims management firms looking for the next big earner after the PPI scandal have been accused of bombarding the much-criticised payday lending sector with c…

Read more

Banks discriminating against the vulnerable, finance expert says

Minorities and disabled people not protected from high overdraft charges, says former FCA board memberVulnerable members of society, including ethnic minorities and people with disabilities, are being discriminated against by banks, a former board memb…

Read more