MoneySavingExpert News

Payday Loans

PPI complaints down, but payday loan gripes soar, says Ombudsman

Complaints about Payment Protection Insurance (PPI) have halved, while those about packaged bank accounts have risen

19 May 2015

Payday lenders must be on comparison sites from next year

Online payday lenders will be forced to publish details of their products on at least one price comparison website

24 February 2015

Wonga escapes police probe over 'fake' lawyer letters

City of London Police says it won't carry out a criminal investigation into Wonga's dodgy debt collection practices

5 February 2015

New payday loan rules come into effect today

Vulnerable borrowers will be better protected from today as new rules to crack down on payday lenders come into force

2 January 2015

Government gives green light to school savings clubs

The Government's announced it will fund £150,000 for a pilot scheme to set up savings clubs in primary schools

31 December 2014

Payday loan broker crackdown revealed

A crackdown on unexpected fees charged by payday loan middlemen has been unveiled by the Financial Conduct Authority

1 December 2014

Wonga keeps 18,000 customers waiting for compensation

Of the 45,000 customers who got fake lawyer letters from payday lender Wonga, 18,000 have yet to get compensation offers

18 November 2014

Church of England proposes school savings clubs

Children as young as four are encouraged to join savings clubs as part of a bid to prevent them relying on payday loans

13 November 2014

Payday loan costs to be capped by watchdog

People taking out payday loans will never have to pay back more than double what they originally borrowed, the FCA says

11 November 2014