Pending Payday Lending Legislation
Last week, the CFPB announced that it is considering a proposal that would require payday lenders to take additional steps to ensure...
News by FinTech Collective
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Wonga hit in the pocket by tighter lending rules
Wonga has slumped to a £37M annual loss after a clampdown by UK regulators on payday lending. As part of Wonga’s effort to transform...
Consumer Financial Protection Bureau seeks limits on payday lenders
The Bureau's new rules are expected to address expensive credits backed by car titles and some installment loans that stretch longer...
UK Payday loan caps come into force
More than 1 million UK borrowers benefited from the Jan 1 regulations introduced by the FCA. Payday loans will now be capped at 0.8% a...
Wonga loses third chief executive in disastrous year
The interim chief executive of troubled UK payday lender Wonga, who was appointed to bring stability while the firm searched for a...
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