Centre for Policy on Ageing
 

 
Payday loans
 — new rules beginning to work ... but lenders must be kept under scrutiny
Corporate AuthorCitizens Advice
Journal titleDignity, no 5, July/August 2015
PublisherDignity Publishing, July/August 2015
Pagespp 18-21
KeywordsFinancial services [older people] ; Elder abuse ; Consumer protection.
AnnotationIn every firm investigated by the Financial Conduct Authority (FCA), researchers discovered 'systems errors' or 'process failures' that led customers being overcharged. This article draws attention to a review undertaken by the FCA, which found breaches under Section 77A of the Consumer Credit Act, unfair treatment of customers by payday lenders and other HCSTC (high-cost short-term credit) providers, and widespread abuse of vulnerable customers. The article also notes that some firms have taken steps towards good practice. (RH).
Accession NumberCPA-150724223 A
ClassmarkJ: QNT: WYP

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