Citizens Advice slams payday lenders for failing to check customers can afford loans

Thomas, Paul
May 2013
Mortgage Strategy (Online Edition);5/7/20123, p5
Trade Publication
The article reports on the criticism made by the Citizens Advice Bureau (CAB) against the payday loan industry in Great Britain after the lenders' failure to conduct financial checks on its customers. Another criticism made was on the failure of the industry to follow the customer charter, which was published in November 2012. Under the charter, payday lenders that sign up must offer clear information about loans, conduct assessments and notify customers in advance about recovering payments.


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