Pay-day loans will be capped to stop companies charging huge amounts of interest and help people stay out debt, the Government announced today.
The Treasury will introduce a new law and the level of cap decided by the new regulator, the Financial Conduct Authority (FCA).
Full story here:
http://www.telegraph.co.uk/news/politics/10472113/Pay-day-loans-new-law-will-cap-overall-cost-to-customer.html
