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Spotlight On: Payday loan code of practice
15 January 2013 The deal Payday and short-term lenders have this week launched a new set of commitments which they claim will raise standards and improve customer service. Good points…
Forget payday loans, the one-year debts are the ones to fear
15 January 2013 Payday loans have been the subject of many a scathing article and are currently under investigation by the Office of Fair Trading (OFT), but they could be…
Tesco now targets the home loan market
15 January 2013 Britain’s most successful supermarket chain will start selling home loans from Monday. It’s the latest move in Tesco’s planned challenge on traditional high-street banks. Interestingly the new…
Bankruptcy too expensive for those in debt
15 January 2013 A substantial fall in the number of people going bankrupt could be due to high fees not any improvement in personal finances, a leading debt advice body…
Payday lender fined more than half a million pounds after being duped by ID fraud
15 January 2013 A payday lender has been fined more than half a million pounds and had its licence revoked after falling victim to fraudsters who successfully impersonated thousands of…
Regulator tells lenders to return ‘hidden’ interest on bridging loans
15 January 2013 Borrowers hit with high interest rates for short-term bridging loans may get some of their cash back after lenders were told charges were “unclear, unfair and misleading”.…
Unemployed ‘targeted by credit card firms’
15 January 2013 Credit card companies have been accused of deliberately targeting the unemployed, people on low incomes and even those who have had money problems in the past. Providers…
Santander under fire after huge mortgage rate hike
15 January 2013 The Spanish-owned bank Santander was accused of “profiteering” last night after it sneaked out a huge mortgage rate hike in letters to customers. Britain’s second-largest mortgage lender…
Tesco ramp up the personal loan price war
15 January 2013 The reluctant price war over personal loan rates could be about to warm up after Tesco Bank reduced its rates for customers borrowing between £7,500 and £15,000.…
Simon Read: Payday lenders offering cash to pay off drug debts is no laughing matter
15 January 2013 This week’s episode of the BBC3 comedy The Revolution Will Be Televised featured a sketch where an actor posed as a simpleton while asking payday lenders for…
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