CAB - Payday lenders fail to keep promises to treat customers fairly

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http://www.citizensadvice.org.uk/index/campaigns/current_campaigns/paydayloans.htm

Payday loan companies do not treat their customers fairly. Despite the payday loan industry promising to clean up its behaviour, our evidence shows that payday lenders have broken their promises. We have been calling for payday lenders to be properly regulated and for them to stop irresponsible advertising.

Have payday lenders kept the promises they made in their Good Practice Customer Charter?

In November 2012 the four main trade associations covering payday lenders implemented a Good Practice Customer Charter.

To monitor whether lenders were doing what they said they would, Citizens Advice launched a survey to help people who have payday loans to check whether their payday lender was sticking to the Charter. Over 4000 people completed the survey and one year on, here is what we found: