The CMA investigated the payday financing market and it has posted its last order.
Treatments execution timetable
The Payday Lending Market research Order 2015 calls for online payday lenders to publish, by 26 May 2017, information on their products or services on one or more cost comparison site which will be authorised because of the Financial Conduct Authority. It requires on the internet and high road payday loan providers to give current clients with a directory 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 shall be published about 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 while making 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|