Payday Mayday
Is it the beginning of the end for some payday lenders, I certainly hope so! Payday loans, and payday lenders themselves, have rarely been out of the media in the last few days. Much of the media...
View ArticleWhat lies beneath?
There is a song in the musical Love Never Dies called The Beauty Underneath. When it comes to how customer details are passed between different companies, it should really be the murky world...
View ArticlePayday lenders in the last chance saloon
I find myself drowning under the weight of paper today, with the publication of: the final report of the OFT compliance review of payday lenders; research on a cap on the total cost of credit and the...
View ArticleSorry is the hardest word
I have been amazed by the responses of various payday lenders, and their trade associations, to the OFT report published this week. When the OFT says there are problems across the whole industry it...
View ArticlePayday lenders’ broken promises leaving customers in harms way
News out this weekend condemned payday lenders for breaking 12 out of 14 promises made to their clients. Over five million adults in the UK are likely to seek a payday loan this year in what is a...
View Article‘High five moments when campaigning for Citizens Advice’
The thing I love most about working for the Citizens Advice service is how committed our staff and volunteers are to helping our clients. What gets them out of bed in the morning certainly isn’t the...
View ArticlePayday lenders: the sad truth
At Citizens Advice we have been running a payday lending survey since November 2012. The aim of the survey is to hold payday lenders to account and check whether the lenders are sticking to the...
View ArticleCelebrity endorsements of financial products are an own goal
Today I attended a government summit on payday loans comprising industry, regulators and government, prompted by evidence of the devastating effect that irresponsible payday lenders are having on...
View ArticleChallenging the FCA the Newcastle CAB way
Payday loans have been in the news a lot today, with the Government announcing a cap on the cost of a payday loan. At Newcastle CAB we help a lot of payday loan customers pushed into serious financial...
View ArticleFew happy returns for payday loan customers
First birthdays tend to be happy affairs with proud parents and bouncing babies. However, today is the first birthday of the Good Practice Customer Charter introduced by the four main trade...
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