Martin Wheatley, the FCA’s ceo, said:
‘we have always been certain that this new rules strike the balance that is right companies and customers. In the event that cost limit was any lower, then we risk devoid of a viable market, any higher and there wouldn’t be sufficient security for borrowers.
‘For those who find it difficult to repay, we think the latest guidelines will put a finish to spiralling payday debts. For the majority of best payday loans in Georgia regarding the borrowers that do spend back their loans on time, the limit on costs and charges represents significant defenses.’