For the past few years there has been a lot of press, mostly negative, about payday loans and payday lenders. Payday loans were a way for someone who has weak, poor, or no credit to get a short-term loan.  Short-term in the sense of the loan is until the borrower’s next payday. To qualify for… Read more »

 A report recently released by the CAB/Citizens Advice Bureau, has shown that many payday lenders are not carrying out credit report checks in their process of underwriting and approving a payday loan. The report, “Payday Loans After The Cap”, found that those borrowers that did not go through the credit check process, were “twice as… Read more »

According to a report by Post Office Travel Money, it is going to cost Holidaymakers going to Europe this summer “up to 50% more” than previous trips. According to the report, a “three-course meal, a glass of wine and a cup of coffee in the island’s resort has gone up by 51 per cent since… Read more »

Since taking over from the Office of Fair Trading and regulating the lending and credit industry a few years ago, the FCA/Financial Conduct Authority have implemented a few changes in how payday lenders can do business, as well as require all lenders and credit and debt advice services to become re-licenced through the FCA. The… Read more »

Payday loans and payday lenders have been in the news quite a bit over the past few years, one for having such high interest rates, and another for poor lending and collection practices. The FCA who regulates payday loans has made some changes in the rules and regulations payday lenders must follow, such as the… Read more »

As of April 6th, those advisers who advise investors on investing in peer-to-peer agreements, will be a “regulated activity” These advisers will need to apply for permission to advise on these investments. Back in February the FCA released a proposal for consultation which contained the following: “Having considered the feedback, we continue to believe it… Read more »

Payday loans, and those that lend them, have been in the news quite frequently the past few years. Initially it was due to the high interest rates the lenders charged, and also the ease at which someone could be approved for a payday loan. As long as you had a job and a bank account,… Read more »

According to figures from the British Banker’s Association, mortgage borrowing was up 26% in October, compared to the same time last year. This means the obvious, more people are buying properties and getting mortgages. The BBA’s most recent High Street Banking Statistics showed that in October 2015, a total of £12.9 billion was borrowed, and… Read more »

It appears that another payday lender has come to an agreement with the FCA/Financial Conduct Authority to pay redress of £1.7 million, to 4,000 of its customers. CashEuroNet, who trade under the names, Pounds to Pocket and Quick Quid, agreed to the redress after the FCA completed an investigation and addressed concerns about how the… Read more »