Loans

Consumers are losing £450 million a year because the Office of Fair Trading (OFT) does not have the resources or powers to offer enough protection from unscrupulous credit firms, the public spending watchdog has found.

A company which sent text messages about payment protection insurance (PPI) reclaiming and compensation for accidents has been censured by the Advertising Standards Authority (ASA).

Around 152,000 current and former Northern Rock customers will receive an average £1,775 compensation due to a paperwork error.

About four million people in the UK are considering taking out a payday loan as they come under pressure from Christmas costs, research suggests.

The new financial services regulator will have powers to cap the cost of payday loans, but not until 2014, the Government has confirmed.

Labour is claiming victory in its crusade to cap the cost of payday loans.

Consumers could have better protection from rogue payday loan firms, if a revised code of practice which comes into force today actually works.

Controversial payday loan firm Wonga has written to customers implying taking out one of its loans can "do wonders" for your credit rating.

MPs who broke a pledge not to raise tuition fees shouldn't stand for re-election, according to a poll of parents published today.

A whopping £516 million was paid out to victims of payment protection insurance (PPI) mis-selling in September, according to latest industry figures.