Ultimatum has been issued by the Office of Fair Trading following a wide-ranging investigation of the sector.
The UK's 50 biggest payday loans firms are facing the prospect of being put out of business unless they implement swift changes to their practices within 12 weeks.
The ultimatum has been issued by the Office of Fair Trading following a wide-ranging investigation of the sector.
The trading watchdog says its uncovered evidence of "widespread irresponsible lending".
Aidan Vaughan from the Association of Christian Financial Advisors told Premier's Marcus Jones on the News Hour why the reforms are needed:
News you can believe in. Stand with Premier Christian News today.
Your gift today ensures that Premier Christian News can press forward in strength, reaching more people with biblical truth and shaping the future of Christian thought. It’s more than just a donation—it’s an investment in renewed minds and transformed lives.
Without continued support, the ability to create and distribute resources that strengthen faith and equip the church will be compromised. But with your help, we can grow deeper, stand firmer, and shine brighter in the culture.
Your support today is critical.
Support Us
