A group of MPs has slammed the Office of Fair Trading (OFT) for failing to take tough action against "predatory" lenders who leave vulnerable customers struggling with spiralling debts.
Payday lenders have been branded as "out of control" by debt advice charity Citizens Advice, after it found cases where money had been lent to people who were aged under 18, had mental health issues, or were drunk when they took out the loan.
The Office of Fair Trading (OFT) has confirmed it won't be recommending the Competition Commission investigate the current account market — but warned providers they'll face a probe if they don't get their house in order.
The Office of Fair Trading (OFT) has launched a review of the 'quick house sale' market, amid fears that desperate home owners are losing large sums of cash.
18 April 2013
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