Payday market investigation that is lending

Payday market investigation that is lending

The CMA investigated the lending that is payday and it has posted its last purchase.

Treatments execution timetable

The Payday Lending Market research Order 2015 calls for online payday lenders to publish, by 26 May 2017, information on their products or services on one or more cost contrast web site that is authorised because of the Financial Conduct Authority. It requires online and high road payday loan providers to give you current clients with a listing of their price of borrowing.

(*) The treatment execution administrative timetable posted below on 26 March 2015 is indicative and has now no statutory foundation. Any modification associated with the timetable will be posted with this website.

Remedy implementation date Action
22 December 2015 extensive statutory deadline for applying treatments, if necessary for unique reasons
23 August 2015 Statutory deadline for applying remedial action
July to August 2015 Order comes into force
July to August 2015 Finalise and work out purchase
April to May 2015 Formal public consultation on draft purchase
March to April 2015 casual consultation on draft purchase with key events
24 February 2015 last report posted

Period 2

Date of recommendation: 27.6.13 Statutory due date: 26.6.15

Last purchase

13 August 2015: The CMA has posted its last purchase after its research to the lending market that is payday. Continue reading Payday market investigation that is lending