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FCA verifies cost limit rules for payday loan providers

FCA verifies cost limit rules for payday loan providers

Individuals making use of payday loan providers as well as other providers of high-cost credit that is short-term see the price of borrowing autumn and certainly will never need to repay more than double exactly just what they initially borrowed, the Financial Conduct Authority (FCA) confirmed today.

Martin Wheatley, the FCA’s ceo, stated:

‘we have always been certain that the latest guidelines strike the balance that is right organizations and customers.