A cap on the amount that payday lenders can charge their customers has been announced by the City regulator. Payday loan rates will be capped at 0.8% a day of the amount borrowed, said the Financial Conduct Authority (FCA). In total, no one will have to pay back more than twice what they borrowed, and […]
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BBC News – Payday loans cap of 0.8% per day announced by FCA
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