Payday loans

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‘It left me with nothing’: the debt trap of payday loans
Some payday loans have interest rates as high as 664% – but now Minnesota will cap them at 36%, in line with some other states

Michael Sainato

02, Jun, 2023 @10:00 AM

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‘Traumatising’: how rogue digital loan apps in Kenya intimidate borrowers
Kenyans unable to access bank loans are being harassed and ‘debt-shamed’ by unlicensed online lenders if they default

Caroline Kimeu

12, Oct, 2022 @6:00 AM

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Where will struggling households turn to after UK clampdown on payday lenders?
Market once dominated by Wonga has halved but some industry figures say there could be role for more tightly regulated sector

Kalyeena Makortoff Banking correspondent

30, Aug, 2022 @5:00 AM

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More UK households are turning to high-cost lenders, says charity
Warning comes as Amigo plans lending comeback offering loan with annual interest rate of 49.9%

Jess Clark

02, Jul, 2022 @6:00 AM

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UK banks must be more flexible to help struggling borrowers, says City watchdog
FCA calls for payment holidays and waiving interest charges for customers hit hardest by cost of living crisis

Kalyeena Makortoff Banking correspondent

16, Jun, 2022 @8:45 AM

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Google profiting from ‘predatory’ loan adverts promising instant cash
The ads, some offering loans delivered ‘faster than a pizza’, appear to deliberately target those in financial trouble

Shanti Das

13, Mar, 2022 @9:30 AM

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‘Their weapon is your shame’: toxic abuse from Nigeria’s loan sharks
Unemployment and inflation in Africa’s largest economy is driving the desperate to unscrupulous loan companies

Emmanuel Akinwotu in Lagos

09, Mar, 2022 @9:17 AM

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‘Learn lessons from Australia’: consumer groups warn UK against buy now, pay later self regulation
UK government told voluntary industry code ‘woefully inadequate’ at protecting consumers in Australia

Ben Butler

18, Jan, 2022 @4:30 PM

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Buy now, pay later customers unaware of debt risks, warns Which?
Consumer body calls for safeguards such as affordability checks in advance of FCA regulation

Rupert Jones

06, Jan, 2022 @12:01 AM

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Consultation launched on regulating UK’s buy now, pay later credit industry
Government view that ‘limited evidence’ of consumer harm could mean laws will not be tough enough, campaigners fear

Rupert Jones

21, Oct, 2021 @3:45 PM

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The surge in ‘buy now pay later’ – and why we should be worried
Fintech firms are jostling to offer millennials interest-free payment plans as they shop online. Retailers love it of course, but all this unregulated lending is ringing alarm bells

Rupert Jones and Kalyeena Makortoff

18, Sep, 2021 @3:00 PM

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Sadly, trade minister is right to say UK firms do better in foreign hands | Phillip Inman
The government should do more to strengthen British businesses to stop them from being snapped up

Phillip Inman

25, Aug, 2021 @6:34 PM

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