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BRIEF-UK's FCA to review interest rate cap on payday loans
November 29, 2016 / 7:31 AM / a year ago

BRIEF-UK's FCA to review interest rate cap on payday loans

Nov 29 (Reuters) - UK’s FCA (Financial Conduct Authority):

* Launches call for input on high-cost credit and overdrafts

* Will look across all high-cost products to build a full picture of how these are used, whether they cause detriment and, if so, to which consumers

* Will look in more detail at overdrafts from a consumer protection, as well as a competition, perspective using its full range of power

* Asking for responses to its call for input by Feb. 15, 2017 For full story, click on: (Bengaluru Newsroom: +91 806 749 1136)

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