OFT to decide on payday firms probe

The trading watchdog will announce next Thursday whether it plans to refer payday lenders for a full-blown investigation by the Competition Commission.

The Office of Fair Trading (OFT) previously uncovered evidence of ''widespread irresponsible lending'' and gave the 50 biggest players in the market a 12-week deadline to prove they were up to scratch or risk being put out of business.
%VIRTUAL-SkimlinksPromo%