Yes. Since 2014 payday loan loan providers come beneath the authority for the FCA (The Financial Conduct Authority). The customer Credit Act 1974 does mean all loan providers will need to have a licence to provide credit rating. The FCA problems these licences, and so they think about reckless lending before giving authorization.
Are pay day loans costly?
More folks than in the past are using benefit of a cash advance to assist them away from an unexpected crisis, partly because of the nature of payday advances in britain.