Consultation item

Payday Lenders' compliance with the Irresponsible Lending Guidance (OFT) (extent=UK) - TSI response - May 2012

TSI response (PDF 136KB). It is not TSI's wish to see responsible short term lenders vilified by the continuing bad press surrounding such products, but the Institute cannot stand by in the face of continuing evidence from colleagues of malpractice and continued suffering on the part of consumers. TSI is particularly concerned at the high levels of charges imposed. The Institute calls for greater protection for consumers with regard to affordability, transparency, accessibility, education, and market protection.