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Ombudsman claims it really is now getting about 200 such complaints per week, but PPI continues to be the offender that is worst

The Financial Conduct Authority began policing lenders that are payday April 2014, but complaints continue to be increasing. Photograph: John Giles/PA

The Financial Conduct Authority started policing payday loan providers in April 2014, but complaints continue to be rising. Photograph: John Giles/PA

Complaints to your ombudsman that is financial payday advances have risen up to very nearly 200 per week – and never all those experiencing issues fundamentally fit the image of low-income borrowers counting on short-term loans to have by.

Through the last half of 2016 the Financial Ombudsman provider received 5,095 brand brand brand new payday lending complaints, up 22% in the very very very first 6 months of the season. Continue reading “Pay day loans complaints increase 22% despite FCA clampdown”