Exactly why are a lot of payday loan providers going into management?

Exactly why are a lot of payday loan providers going into management?

“There will simply be four main payday loan providers running within the sector.”

This is the claim produced by the Financial Conduct Authority (FCA) back 2014, when I sat in a crowded seminar hall in the middle of other payday loan providers and brokers. Because of the FCA taking over through the workplace of Fair Trading that 12 months, many industry players had been anticipating a shake-up as directors of pay day loan businesses and I also huddled into this space looking to get some understanding of the pending legislation.Read more