Toothless regulators permitting payday lenders run amok
He found that the FoS had gotten 6,700 complaints about Lending Stream and its particular brands Gain Credit and Drafty, upholding 50 % of them. But just how many more individuals were made to hold back for urgent action? exactly just How people that are many enough time, power and wherewithal to doggedly hold FoS to account, to get the settlement and credit history modification they deserve?
Moreover, Mr Naish unveiled how a FCA has over and over over over repeatedly refused to reveal if they are properly investigating these appallingly-managed companies, maybe perhaps maybe not havoc that is just wreaking borrowers but also for clients that have never ever gone near pay day loans. [Read more...]