The CMA investigated the payday financing market and has now posted its last purchase.
Treatments execution timetable
The Payday Lending Market research Order 2015 calls for online payday lenders to publish, by 26 May 2017, information on their products or services on a minumum of one cost comparison web site that is authorised by the Financial Conduct Authority. It requires online and high road payday loan providers to give current clients with a directory of their price of borrowing.
(*) The treatment execution administrative timetable posted below on 26 March 2015 is indicative and has now no basis that is statutory. Any modification associated with the timetable shall be posted with this website.
| Remedy implementation date | Action |
|---|---|
| 22 December 2015 | extended deadline that is statutory applying treatments, if necessary for unique reasons |
| 23 August 2015 | Statutory due date for implementing remedial action |
| July to August 2015 | Order comes into force |
| July to August 2015 | Finalise and also make purchase |
| April to May 2015 | Formal public consultation on draft purchase |
| March to April 2015 | casual consultation on draft order with key events |
| 24 February 2015 | last report posted |
Stage 2
Date of recommendation: 27.6.13 Statutory due date: 26.6.15
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