Banks should agree minimum standards for basic bank accounts before their...
A proposal by the European Union to introduce a right to a basic bank account could become law in three years time. We think the banks should act now to make sure anyone who wants a basic account can...
View ArticlePayday lenders: the sad truth
At Citizens Advice we have been running a payday lending survey since November 2012. The aim of the survey is to hold payday lenders to account and check whether the lenders are sticking to the...
View ArticleCelebrity endorsements of financial products are an own goal
Today I attended a government summit on payday loans comprising industry, regulators and government, prompted by evidence of the devastating effect that irresponsible payday lenders are having on...
View ArticlePayday loan rip-off charter launched!
Politicians of all persuasions are trying to work out how to tackle payday loans. This week a new charter was launched to build more support. Citizens Advice were there for the launch. On Tuesday 15...
View ArticleMPs increase the pressure on payday lenders
As evidence of the financial misery caused by payday lenders has mounted, the urgent need to end the excesses of the industry has risen rapidly up the political agenda. On Tuesday, I gave evidence to a...
View ArticleChallenging the FCA the Newcastle CAB way
Payday loans have been in the news a lot today, with the Government announcing a cap on the cost of a payday loan. At Newcastle CAB we help a lot of payday loan customers pushed into serious financial...
View ArticleBIS Select Committee deliver payday Christmas present
Back in November I gave evidence to the Business, Innovation and Skills Select Committee as part of their inquiry into payday loans. Today, they have delivered an early Christmas present and published...
View ArticleStronger together: How cooperation with the FCA can help consumers
Last month, a landmark cooperation agreement between the Financial Conduct Authority (FCA) and Citizens Advice was signed, signalling a previously unseen level of information sharing between the two...
View ArticleCan new rules for payday lenders lead to more debt advice?
Political attention is never far away from payday lending. This week there were two debates in Parliament on payday lending and the changes to how the industry will be policed. On Monday evening there...
View ArticleLeeds City Council take a stand against high cost lending
Despite the payday loan industry promising to clean up its behaviour, Citizens Advice evidence shows that payday lenders have broken their promises. We know councils are concerned about the impact of...
View ArticleI fought a bad ad…and I won!
Back in October I got mad about the ad and complained to the Advertising Standards Authority (ASA) about a payday loan advert I thought was irresponsible. Today the ASA announced that it has been...
View ArticleA Budget for Makers, Doers and Savers?
The Budget. The Chancellor had plenty of good news to cheer us all up. Growth forecasts are up, unemployment is falling, and wages will start to rise faster than inflation. That means Government...
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