FCA reforms to force payday lenders 'out of business'
Reforms to the payday loans industry will "force a quarter of firms" out of business, the head of the Financial Conduct Authority has said.
Martin Wheatley told BBC Radio 4's Today programme the FCA is putting in place a "more stringent affordability criteria" for lenders, which will force companies with "poor practices" to leave the industry.
First broadcast on BBC Radio 4's Today programme on Wednesday 12 March.
12 Mar 2014
- From the section Business