Payday loan firm's licence revoked

Press Association
Payday loans
Payday loans

Payday loan firm Yes Loans has had its licence revoked after using "deceitful and oppressive business practices", the trading watchdog has said.


Yes Loans arranged expensive short-term loans for some consumers rather than the products they were initially asking about and misled consumers into believing it was a loan provider rather than a credit broker, the Office of Fair Trading (OFT) found.