This thirty days, the very first time the Financial Conduct Authority (FCA) released figures from the high-cost short-term credit market (HCSTC), and additionally they paint a picture that is worrying.
HCSTC (usually by means of a loan that is payday happens to be increasing since 2016 despite a decrease in the amount of loan providers. ВЈ1.3 billion ended up being lent in 5.4 million loans when you look at the to 30 June 2018i year. In addition, current quotes reveal that the mortgage shark industry may be worth around ВЈ700millionii. […]