New rules in payday loans clampdown

Press Association
Updated
Hard-up nurses using payday loans
Hard-up nurses using payday loans

Payday lenders will be banned from rolling over loans more than twice under new rules to clamp down on poor practice announced by the City regulator.

The Financial Conduct Authority (FCA), which takes over regulation of the consumer credit market from April 1, unveiled a finalised set of rules that will be imposed as it toughens up on poor practice.
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