Why Are People Being Denied Payday Loans?

Why Are People Being Denied Payday Loans?

Getting a payday loan isn’t automatic. Although choosing a payday lender with a high approval rate helps, your loan can still be declined. Why? Changing business models Before the FCA introduced a price cap on the total cost of payday… Continue Reading

Summary of the UK Payday Lending Market Investigation by the Competition Market Authority (CMA)

CMA competition markets authority

Just recently, the Competition Market Authority (CMA) conducted a payday lending market investigation (Click here to download the official report). Below is a summary of the findings as well as recommendations. Overview According to the CMA investigation, the average size… Continue Reading

Bill Set Out To Tackle ‘Extortionate’ UK Overdraft Fees

Bill Set Out To Tackle 'Extortionate' UK Overdraft Fees

MP Rachel Reeves has proposed legislation to make UK banks subject to the same rules applicable to payday loan lenders. Bank customers who have been subject to ‘extortionate’ overdraft fees have hope going forward after a parliamentary bill tabled recently… Continue Reading