The CMA investigated the lending that is payday and has now posted its last order.

Treatments execution timetable

The Payday Lending Market research Order 2015 calls for online payday lenders to publish, by 26 May 2017, information on their products or services on one or more price comparison internet site that is authorised by the Financial Conduct Authority. In addition it requires on the internet and high road payday loan providers to give you existing clients with a listing of their price of borrowing.

(*) The treatment execution administrative timetable posted below on 26 March 2015 is indicative and has now no statutory foundation. Any modification of this timetable shall be posted about this website.

Stage 2

Date of recommendation: 27.6.13 Statutory due date: 26.6.15

Final purchase

13 August 2015: The CMA has published its last purchase after its investigation in to the payday financing market.

Draft purchase consultation

• Notice of intention which will make an purchase (1.5.15)
• Draft purchase (1.5.15)
• Draft explanatory note (1.5.15)

Last report

• Last report (PDF, 4Mb) (24.2.15)
• Appendices and Glossary (PDF, 9Mb) (24.2.15)
• Pr release: CMA finalises proposals to reduce loan that is payday (24.2.15)

Amendments to remedies that are proposed

19 December 2014: The CMA has posted an appointment paper on amendments towards the cost comparison website (PCW) plus the declaration of borrowing remedies. The assessment has closed.

Provisional choice on treatments

9 October 2014: The CMA has now published its provisional choice from the package of treatments necessary to remedy the effect that is adverse competition (AEC) together with ensuing consumer detriment this has provisionally discovered. It has additionally launched a session on an addendum to its provisional findings report, and published payday lending customers to its customer research. The assessment has closed.

Variation of this terms of guide

• Notice of an ask for a variation associated with terms of reference (PDF, 96 Kb) 11.6.14
• Notice of a variation for the terms of guide 22.7.14

Treatments research – invitation to discuss possible companies: Now closed

• Invitation to comment on agencies invited to tender for potential remedies general market trends 18.6.14

Provisional findings and remedies that are possible

• Notice of provisional findings (PDF, 105 Kb) 11.6.14
• Overview of provisional findings report (PDF, 150 Kb) 11.6.14

installment loans for bad credit

• Notice of feasible treatments (PDF, 219 Kb) 11.6.14
• News release: Payday borrowers paying the purchase price for not enough competition 11.6.14
• Provisional findings report and Appendices & Glossary 13.6.14

Analysis

Performing papers

Performing Papers are posted to ask commentary and help the Inquiry Group develop its reasoning on key areas. They need to never be thought to be containing the Group’s views that are definitive. For more info see the CCs directions for Market Investigations (PDF, 675 Kb), draft for general general public consultation, in specific paragraphs 56 and 57.

Proof

Reactions to your draft purchase assessment

• Community Developing Finance Association 17.6.15
• Customer Finance Association 17.6.15
• Finance & Leasing Association 17.6.15
• Financial Ombudsman Provider 17.6.15
• Islington Debt Coalition 17.6.15
• The overall Customer Council for Northern Ireland 17.6.15
• Wonga Group Limited 5.8.15

Reactions towards the proposed treatments consultation

• BGL Group Limited (comparethemarket.com) 23.2.15
• CashEuroNetUK, LLC 15.1.15
• Christians Against Poverty 15.1.15
• Customer Finance Association 15.1.15
• DFC Worldwide Corp 15.1.15
• Global Analytics 15.1.15
• Islington Debt Coalition 15.1.15
• Cash Guidance Trust 15.1.15
• Quiddi Hub Ltd 27.1.15
• Torfaen CBC and people of the Torfaen Local provider Board Welfare Reform venture Group 22.1.15
• Welsh Trading Standards 22.1.15
• Which? 15.1.15
• Wonga Group Limited 3.2.15

Reactions to your provisional choice on treatments

• 118 118 Cash 7.11.14
• Callcredit 7.11.14
• CashEuroNetUK, LLC 24.11.14
• Customer Finance Association 7.11.14
• DFC Worldwide Corp 24.11.14
• Bing 7.11.14
• Islington Debt Coalition 7.11.14
• Cash Information Trust 7.11.14
• Money.co.uk 7.11.14
• MoneySavingExpert.com Limited 7.11.14
• MoneySuperMarket.com 11.2.15
• MYJAR 7.11.14
• Quiddi Hub Ltd 4.12.14
• SGE Group 7.11.14
• Wonga Group Limited 18.12.14

Summaries of response hearings held with events

• 118 118 Cash 8.10.14
• Callcredit 3.10.14
• CashEuroNetUK, LLC 1.10.14
• D&D Marketing (T3 Leads) 30.10.14
• DFC Worldwide Corp 30.9.14
• Elevate Credit Overseas Limited (previously Think Finance UK) 3.10.14
• Equifax 1.10.14
• Experian 1.10.14
• Financial Conduct Authority 30.9.14
• Gagemax 3.10.14
• Worldwide Analytics 1.10.14
• Bing 30.9.14
• LendingMetrics 8.10.14
• Money.co.uk 30.9.14
• Cash Gap Group Ltd 9.10.14
• MoneySuperMarket.com 3.10.14
• Pingtree Ltd 24.10.14
• Provident Financial PLC 29.9.14
• Quiddi Hub Ltd 24.10.14
• SGE Group 15.10.14
• Ratio System Limited 8.10.14
• Stop Go Networks 30.10.14
• Teletrack British Ltd 29.9.14
• Transcript associated with response that is multi-lateral with consumer groups 29.9.14
• Transcript regarding the multi-lateral reaction hearing utilizing the trade associations and their users 29.09.14
• Wonga Group Limited 8.10.14

Reactions to provisional findings and Notices of feasible treatments / an obtain a variation associated with terms of reference

Reactions the CMA has gotten from organisations to provisional findings, the Notice of possible treatments while the Notice of ask for a variation for the terms of guide.