“It’s absolutely right that payday loan customers are compensated for such poor practices” – Which? response to Cash Genie providing £20 million redress to customers for unfair practices

Which? executive director, Richard Lloyd, said:

“It’s absolutely right that payday loan customers are compensated for such poor practices. The Financial Conduct Authority must keep the pressure up to ensure borrowers in difficulty are treated fairly and protected from falling further into a spiral of debt. As well as keeping the price cap under review, the regulator should now look at unfair practices and excessive fees across the whole credit market.”​

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