Payday lending market investigation

Standard

The CMA investigated the lending that is payday and contains posted its final purchase.

Remedies execution timetable

The Payday Lending Market research Order 2015 calls for online lenders that are payday publish, by 26 May 2017, information on their products or services on a minumum of one cost contrast internet site that will be authorised because of the Financial Conduct Authority. Additionally requires online and high road payday loan providers to produce current clients with a listing of their price of borrowing.

(*) The treatment execution administrative timetable posted below on 26 March 2015 is indicative and contains no statutory foundation. Any modification of this timetable shall be posted with this website.

Remedy implementation date Action
22 December 2015 extensive statutory deadline for applying treatments, if needed for unique reasons
23 August 2015 Statutory due date 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 assessment on draft purchase
March to April 2015 casual consultation on draft purchase with key events
24 February 2015 last report posted

Stage 2

Date of recommendation: 27.6.13 Statutory due date: 26.6.15

Continue reading