Loans

A crackdown on unexpected fees charged by payday loan middlemen has been unveiled by the industry watchdog.

Of the 45,000 customers who received fake lawyer letters from payday lender Wonga, 18,000 have yet to receive compensation offers from the firm.

People taking out payday loans will never have to pay back more than double what they originally borrowed, the Financial Conduct Authority (FCA) has announced today. While MoneySavingExpert.com welcomes this move, it is disappointed that the loan cost cap isn't lower.

Tesco Bank loan and credit card customers are starting to receive details about their share of the £43 million set aside by the bank due to historic paperwork errors.

MoneySavingExpert.com is calling on graduates with an Erudio student loan to give us their feedback on the firm's new deferral forms.

Payday loan brokers, or middlemen, are taking advantage of low income earners by offering to get them the cheapest deal then taking fees of up to £700 from their bank accounts, according to NatWest.

Savers are a step closer to being able to earn a tax-free income from peer-to-peer (P2P) lending after the Government today launched a consultation on how to include this form of lending in NISAs.

Payday lenders will have to provide details of their loans to comparison websites in order to operate, under new proposals set out by the Competition and Markets Authority (CMA) today.