Individuals making use of payday loan providers as well as other providers of high-cost credit that is short-term begin to see the price of borrowing autumn somewhat under proposals established by the Financial Conduct Authority (FCA) today.

The FCA’s proposals for a limit on payday lending suggest that from January 2015, for new loans that are payday including if they’re rolled over, interest and charges must not go beyond 0.8% each day of this quantity lent. Read more