Improved rules for payday lenders

The vast majority of payday lenders must abide by improved customer codes from Monday as the drive to step up standards in the industry continues.

The move comes amid calls for tighter restrictions on high-interest lenders and last week the trading watchdog said that formal investigations have been launched into several payday firms over their debt collection methods as it continues a compliance review into the sector.
%VIRTUAL-SkimlinksPromo%