Author Archives: Matt

Sheffield Money, a new lending service, has opened in the city and will compete against high-interest lenders offering payday loans, as they provide advice on alternative loans and bank accounts, as well as operating as a broker. Regulated by the Read more…

Tens of thousands of students have been left out of pocket by an average of £580 due to the Student Loans Company (SLC) overcharging them. Outdated systems which are “not fit for purpose” were attributed to causing the overpayments, which Read more…

Cash Genie, a payday loan company which stopped offering payday loans to customers in September last year, has been fined £20m by the Financial Conduct Authority (FCA). Owned by Ariste Holding, Cash Genie was launched in 2009. However, the lender Read more…

There has been a rise in the number of spam calls and texts people have received, according to the Information Commissioner’s Office (ICO), with many complaints made, some of which concerned payday loans. In the last twelve months, 180,000 complaints Read more…

A survey carried out by Unite Student, a student accommodation provider, indicates that payday loans are being taken out by tens of thousands of students in order to cover the students’ daily living costs. Approximately 8,500 students were surveyed, and Read more…

The Sunday People has reported that a manager at one of the largest payday loan firms in the UK has claimed she was ordered to “take the rings off the fingers” of people who owed money, but couldn’t afford to Read more…

The Bank of England has called for credit unions to be granted more flexibility to operate, which would allow them to carry out a wider range of services. The current rules have been labelled as “rigid restrictions”, with the proposals Read more…

According to a report by the University of St Andrews, young people in Scotland are struggling to navigate the housing market, with some taking out payday loans in order to avoid rent arrears. This is part of findings looking into Read more…

An out-of-court settlement for $23m has been agreed in Australia, in compensation to approximately 37,500 customers who claimed they had been charged excessive interest. Although the lawyers of the customers say the settlement is still dependent on approval from the Read more…

The Citizens Advice charity has announced that the number of complaints made about payday loans in the last year has almost halved, due to the Financial Conduct Authority (FCA) introducing new payday loans rules. From January to March this year, Read more…