The Money Shop payday lender to pay back £700,000

PA/AOL Money
Payday lender to refund borrowers £700,000
Payday lender to refund borrowers £700,000

Payday lender The Money Shop is to refund more than £700,000 to borrowers who received loans that exceeded the firm's lending criteria.

The Money Shop's owner Dollar, which is the UK's second largest payday lender, failed to ensure that proper checks took place to ensure that borrowers did not take on more than they could afford to pay back.