The vast majority of payday lenders must abide by improved customer codes from today as the drive to step up standards in the loans industry continues.
The move comes amid calls for tighter restrictions on high-interest lenders and a new investigation into industry standards.
The improved standards have so far been agreed to by four trade associations, representing more than 90% of the short-term loan sector.
Any lender who is a member of the trade associations must abide by the rules or ultimately face expulsion.
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereComments are closed on this article