Which? response to Financial Conduct Authority payday lenders debt collection...
Richard Lloyd, Which? executive director said: “The payday market is dogged by poor practice and we know borrowers in difficulty are not always treated fairly. This review is another encouraging sign...
View ArticleResponse to Financial Conduct Authority taking over responsibility for...
Richard Lloyd, Which? executive director said: “We welcome the promised tough new approach from the Financial Conduct Authority to cleaning up the credit market. “It must now clamp down on excessive...
View Article“Payday lenders have been running wild for too long”– Which? response to the...
In response to the Financial Conduct Authority’s announcement on payday lenders Which? executive director, Richard Lloyd, said: “It’s good to see the regulator tackling the eye-watering cost of payday...
View Article‘Good news for millions of borrowers but information alone will not be the...
Which? executive director, Richard Lloyd, said: “These proposals, alongside other reforms to the payday market, will be good news for millions of borrowers but information alone will not be the answer...
View Article“Hope for millions of borrowers stuck in a cycle of debt” – Which? response...
In response to the Financial Conduct Authority’s announcement on payday lenders Which? executive director, Richard Lloyd, said: “Today the regulator offers hope for millions of borrowers stuck in a...
View ArticlePayday not the only problem
Appearing at the Treasury Select Committee today Which? executive director Richard Lloyd said the regulator must look at the behaviour of more mainstream credit providers and how consumers are led to...
View Article“Wonga must justify why they have failed to send compensation letters”- our...
In response to Wonga’s evidence to the Treasury Select Committee today that they have sent only 27,000 letters to the 45,000 customers who were affected by their fake legal letters, Richard Lloyd said:...
View ArticleTime to turn the spotlight on the wider credit market
As the new payday rules come into effect today, Which? takes a look at the payday market and calls on the regulator to now turn the spotlight on the wider credit market. Our snapshot research looked at...
View Article“Further evidence that payday lenders are failing some of the most vulnerable...
Which? executive director, Richard Lloyd, said: “This is yet further evidence that payday lenders are failing some of the most vulnerable consumers. The regulator must continue to take action to ensure...
View Article“It’s absolutely right that payday loan customers are compensated for such...
Which? executive director, Richard Lloyd, said: “It’s absolutely right that payday loan customers are compensated for such poor practices. The Financial Conduct Authority must keep the pressure up to...
View Article
