FCA calls on payday lenders to review lending activity
To ensure creditworthiness assessments compliant
The Financial Conduct Authority (FCA) has written to payday lenders urging them to review their lending activity in order to determine if their creditworthiness assessments are compliant.
In a open letter to CEOs of providers of what it calls "high-cost short-term credit" (HCSTC), the FCA said that, if deficiencies were found, firms should take remedial action to ensure ongoing lending...
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