OFT

Nearly two years after admitting it had breached the Consumer Credit Act, the Co-operative Bank still has not refunded all the affected customers.

The City of London Police has today said it will not carry out a criminal investigation into Wonga's debt collection practices after it was revealed last year that the payday lender used letters from bogus law firms to pressure customers into paying debts.

The cost of car insurance could drop but you'll probably have to spend more time looking for the best price after the competition watchdog banned pricing agreements between comparison sites and car insurers.

Over 6,000 borrowers who were lent more than they could afford are to be refunded a combined total of more than £700,000 by payday lender The Money Shop.

Thousands of Wonga customers are due compensation after the payday lender pressured 45,000 customers into repaying loans by sending letters from non-existent law firms chasing debt, and overcharged thousands more following "technical errors".

The Financial Conduct Authority (FCA) has promised "tough and decisive action" against payday lenders that don't follow strict new rules, after taking over regulation of the consumer credit market from the Office of Fair Trading (OFT) today.

Five furniture and carpet retailers have agreed to change their pricing practices following an investigation into the way discounts are advertised.

Nearly half a million personal loan and credit card customers are in line for a windfall after a raft of lenders agreed to repay over £149 million in interest and charges following paperwork errors.

The way payday lenders collect debts and deal with borrowers who owe them money will come under the spotlight next month with an official investigation.

Payday lenders will have to make sure their customers can afford their loans and face having misleading ads banned under new rules to crack down on the industry.