The UK Financial Ombudsman Service (FOS) has joined a regulatory push to clamp down on mis-selling and poor practice in the payday loan industry. The Financial Conduct Authority (FCA) last week revealed that payday loans accounted for a quarter of the misleading advertisements it is investigating under its new mandate to regulate the consumer credit industry – and added that the industry had failed to improve since the FCA took over in April this year.
Now the FOS has revealed that the complaint
The week on Risk.net, October 6-12, 2017Receive this by email
- SGX, HKEX expect to be among first wave of Mifid II equivalence
- Leaked EU doc could shield legacy swaps from clearing grab
- ABS set for revival under US Treasury’s liquidity buffer plans
- Quantile, TriOptima face off in cleared swaps compression battle
- Quants stymied by lack of alternative risk premia flows data