The CMA investigated the lending that is payday and contains posted its last purchase.
Treatments execution timetable
The Payday Lending Market research Order 2015 calls for online payday lenders to publish, by 26 May 2017, information on their products or services on one or more price contrast site that will be authorised by the Financial Conduct Authority. It requires online and high road payday loan providers to present current clients with a listing of their price of borrowing.
(*) The treatment execution administrative timetable posted below on 26 March 2015 is indicative and contains no basis that is statutory. Any modification associated with the timetable shall be posted about this website.
|Remedy implementation date||Action|
|22 December 2015||extensive statutory deadline for applying treatments, if needed for unique reasons|
|23 August 2015||Statutory due date for applying remedial action|
|July to August 2015||Order comes into force|
|July to August 2015||Finalise and then make purchase|
|April to May 2015||Formal public assessment on draft purchase|
|March to April 2015||casual consultation on draft purchase with key events|
|24 February 2015||last report posted|
Date of referral: 27.6.13 Statutory due date: 26.6.15
13 August 2015: The CMA has posted its last purchase after its research in to the lending market that is payday.
Draft purchase assessment
- Notice of intention to produce an purchase (1.5.15)
- Draft purchase (1.5.15)
- Draft explanatory note (1.5.15)
- Last report (PDF, 4Mb) (24.2.15)
- Appendices and Glossary (PDF, 9Mb) (24.2.15)
- News release: CMA finalises proposals to lessen cash advance expenses (24.2.15)
Amendments to proposed treatments assessment
19 December 2014: The CMA has posted an appointment paper on amendments towards the cost contrast website (PCW) as well as the declaration of borrowing treatments.