Post ID 38678

Payday loan providers face razor- sharp critique as complaints increase 130%

Financial Ombudsman provider states conduct by some businesses in sector was unsatisfactory

The FOs has managed clients whom review of held significantly more than 100 payday advances at one time. Photograph: Andy Hall/for the Observer

The finance industry’s adjudicator has criticised the “unacceptable” behavior of some payday loan providers following a 130per cent increase in complaints, which it stated goes beyond the methods of recently collapsed industry frontrunner Wonga. (more…)