Pay day loans industry to manage competition inquiry

Pay day loans industry to manage competition inquiry

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    Any office of Fair Trading (OFT) has called the lending that is payday towards the Competition Commission as a result of issues about “deep-rooted issues with the way in which competition works”.

    The OFT said it unearthed that clients discovered it hard to determine or compare the cost that is full of loans.

    It included that there have been obstacles to switching between loan providers whenever loans had been “rolled over”. Read more