The CMA investigated the lending that is payday and it has posted its last purchase.
Treatments implementation timetable
The Payday Lending Market Investigation 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 internet site which will be authorised because of the Financial Conduct Authority. In addition it requires on the internet and street that is high loan providers to present current clients with a listing of their price of borrowing.
(*) The treatment execution administrative timetable posted below on 26 March 2015 is indicative and it has no statutory foundation. Any modification associated with timetable will be posted about this website.
|Remedy implementation date||Action|
|22 December 2015||extended deadline that is statutory applying treatments, if needed 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 work out order|
|April to May 2015||Formal public assessment on draft purchase|
|March to April 2015||casual consultation on draft order with key events|
|24 February 2015||last report posted|
Date of recommendation: 27.6.13 Statutory due date: 26.6.15
13 August 2015: The CMA has posted its last purchase after its research to the lending market that is payday.
Draft purchase assessment
- Notice of intention in order to make a purchase (1.5.15)
- Draft purchase (1.5.15)
- Draft explanatory note (1.5.15)
- Last report (PDF, 4Mb) (24.2.15)
- Appendices and Glossary (PDF, 9Mb) (24.2.15)
- Pr release: CMA finalises proposals to lessen cash advance expenses (24.2.15)
Amendments to proposed treatments assessment
19 December 2014: The CMA has posted an appointment paper on amendments to your cost contrast website (PCW) while the declaration of borrowing treatments. Continue reading →