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MSE News: Payday loan firms face legal crackdown from April

Comments

MothballsWallet Posts: 16,011 Forumite

2 March 2014 at 1:05PM

I had to :rotfl: when I read the line that the FCA will apply "swift penalties", because that's complete carp in my book.

The worse these regulators do is a slap on the wrist and a "don't do it again" when they should be doing so much more than that, like hitting offending firms with a fine equal to 90%+ of their pre-tax profits for each of the next 10 years.

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