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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Two FCA consultation papers
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