Payday loan providers and credit companies to fund ‘illegal money’ enforcement groups

Payday loan providers and credit companies to fund ‘illegal money’ enforcement groups

Proposed levy coincides with federal government withdrawal of funding for solution that has prosecuted significantly more than 300 money that is illegal since 2004

The Financial Conduct Authority is supposed to be because of the capacity to introduce a brand new levy on credit rating organizations.

The Financial Conduct Authority should be because of the capacity to introduce a brand new levy on credit rating organizations from 2017-18. Photograph: Andy Hall/The Observer

Pay day loan companies and credit card issuers could possibly be charged a cost to finance the ongoing work of groups breaking down on loan sharks, the chancellor has announced. Continue reading “Payday loan providers and credit companies to fund ‘illegal money’ enforcement groups”