The CMA investigated the payday financing market and contains posted its last purchase.
Treatments implementation 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 web site that is authorised by the Financial Conduct Authority. In addition it requires on the internet and high road payday loan providers to give current clients with a listing of their price of borrowing.
(*) The treatment execution administrative timetable posted below on 26 March 2015 is indicative and has now no basis that is statutory. Any modification associated with the timetable will be posted with this website.
|Remedy implementation date||Action|
|22 December 2015||extensive statutory deadline for applying treatments, if necessary 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 then make 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|