• Ariste Holding (money Genie) 6.5.14
• Barclays Bank plc (PDF, 37 Kb) 7.2.14
• Money Converters British together with customer Finance Association (PDF, 140 Kb) 2.5.14
• CashEuroNetUK, LLC (PDF, 150 KB) 6.5.14
• DFC worldwide Corp 30.5.14
• Lloyds Banking Group (PDF, 43 Kb) 7.2.14
• Mr Lender together with credit and Trade Association (PDF 143, Kb) 2.5.14
• MYJAR (PDF, 119 KB) 6.6.14
• Provident Financial plc (PDF, 45 Kb) 7.2.14
• SRC Transatlantic Limited/ WageDayAdvance Limited 12.5.14
• The Bucks Shop (139, PDF Kb) 02.5.14
• The Financial Conduct Authority (PDF, 161 KB) 10.6.14
• Think Finance (UK) Limited 30.5.14
• Transcript for the hearing that is multi-lateral customer bodies (PDF, 326 Kb) 07.2.14
• Transcript of this multi-lateral hearing held with all the trade associations and their people 30.5.14
• Wizzcash (PDF 142, Kb) 2.5.14
• Wonga 27.5.14

Responses to issues statement

• BCCA (PDF, 113 Kb) 26.9.13
• Cash Converters (UK) restricted (PDF, 64 Kb) 30.9.13
• CashEuroNetUK, LLC https://speedyloan.net/title-loans-hi 7.10.13
• Citizens Advice (PDF, 50 Kb) 26.9.13
• People guidance Scotland (PDF, 395 Kb) 26.9.13
• Consumer Finance Association (PDF, 73 Kb) 26.9.13
• customer Finance Association response that is supplementary
• Debt information Foundation (PDF, 295 Kb) 26.9.13
• DFC worldwide Corp 4.10.13
• Law Society of Scotland (PDF, 40 Kb) 30.9.13
• cash guidance Trust (PDF, 66 Kb) 26.9.13
• MYJAR (PDF, 97 Kb) 30.8.13
• StepChange financial obligation Charity (PDF, 441 Kb) 3.10.13
• Think Finance (UK) (PDF, 498 Kb) 26.9.13
• Veritec Possibilities LLC (PDF, 273 Kb) 3.10.13
• Which? (PDF, 261 Kb) 26.9.13
• Wonga Group Limited (PDF, 3.5 Mb) 4.10.13

Submissions

• Albemarle & Bond (PDF, 33 Kb) 30.8.13
• Amigo Loans Limited (PDF, 1.2Mb) 17.4.14
• Credit rating Trade Association (PDF, 28 Kb) 22.8.13
• CashEuroNetUK, LLC (PDF, 329 KB) 27.8.13
• DFC Worldwide Corp 20.8.13
• Equifax Ltd (PDF, 43 Kb) 20.8.13
• LOAF (PDF, 117 Kb) 21.1.14
• Mutual Clothing & provide Co Ltd (PDF, 326 Kb) 20.8.13
• Think Finance (UK) Ltd (PDF, 34 Kb) 20.8.13
• Wonga Group Limited (PDF, 1.1 Mb) 20.8.13

Invitation to discuss agencies invited to tender on research: Now closed

• Invitation to comment on draft study questionnaire (PDF, 223 Kb) 26.9.13
• Invitation to comment on visit of general market trends agency and study methodology (PDF, 43 Kb) 20.8.13
• Invitation to comment on agencies invited to tender for researching the market (PDF, 41 Kb) 7.8.13

Issues statement

• Annotated issues declaration (PDF, 176 Kb) 31.1.14
• Dilemmas declaration (PDF, 115 Kb) 14.8.13
• pr release: Payday financing research — dilemmas declaration 14.8.13

Terms of guide

• Terms of reference (PDF, 50 Kb) 27.6.13

Market research guide group

Case opened

Phase 1

Overview of work

On 6 March 2013, the OFT published an appointment document aiming its provisional choice to mention the payday financing market in britain into the CC and exposed a consultation that is public. The assessment document identified lots of features that the OFT suspected were — either separately or in combination — preventing, restricting or competition that is distorting forex trading. The general public assessment closed on 1 might 2013.

On 27 June 2013, the OFT announced its ultimate decision to mention industry for payday financing in the united kingdom towards the Competition Commission (CC) for an industry research. Having considered reactions towards the assessment, the OFT stayed associated with view that there have been reasonable grounds for suspecting that has for the payday financing market had been preventing, limiting or competition that is distorting.

The features identified by the OFT had been:

Variability in conformity — the OFT Compliance Review discovered varying quantities of non-compliance with appropriate legislation and guidance by payday lenders. The OFT suspects that people organizations which spend more hours and energy in complying are put at a competitive drawback to those that invest less.

Insufficient price transparency — the OFT has identified techniques which can make it burdensome for customers to determine or compare the cost that is full of loans effectively in the point whenever loans are removed. The OFT suspects why these techniques undermine cost competition by rendering customers all together less able to constraining costs.

Cost insensitive clients — an important percentage of payday borrowers have actually dismal credit records, restricted access to other designs of credit and/or pushing needs. This might cause them to less cost delicate which, the OFT suspects, weakens cost competition between payday lenders.

Obstacles to switching — you will find obstacles to switching between payday loan providers or to alternate services and products or choices during the true point of rollover. The OFT suspects why these obstacles benefit incumbent loan providers and stop, limit or distort competition from feasible lenders that are alternative the idea of rollover.

Market concentration — the OFT suspects that high concentration and obstacles to entry and expansion exacerbate the avoidance, limitation or distortion of competition as a result of the features identified above.

Action

The OFT, in workout of its abilities under Sections 131 of this Enterprise Act 2002 (the Act), referred the supply and of pay day loans in britain towards the CC for research.

(нет рейтинга)

Loading...