Demand the OFT refer the payday lending sector to the competition commision

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Demand the OFT refer the payday lending sector to the competition commision

Additional Information

Today the OFT has 'provisionally decided' - subject to consultation - to refer the payday lending market to the Competition Commission to undertake a detailed analysis of how the market works, and to identify 'lasting solutions which get to the heart of the underlying issues'. In doing so, the OFT indicates that the 'Competition Commission's analysis can also help inform the Financial Conduct Authority's work to determine whether to use its power to cap the cost or duration of credit once the transfer has taken place'.

...DEMAND THE SECTOR IS REFERRED TO THE COMPETITION COMMISSION.

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