FCA confirms cost limit rules for payday loan providers Individuals utilizing payday loan providers as well as other providers of high-cost credit that is short-term start to see the price of borrowing autumn and can do not have to repay significantly more than double just exactly exactly what they initially borrowed, the Financial Conduct Authority (FCA) confirmed today. Martin Wheatley, the FCA’s ceo, stated: ‘we have always been certain that this new guidelines strike the right stability for companies and customers. In the event that cost limit had been any reduced, then we chance devoid of a viable market, any greater and there wouldn’t be sufficient security for borrowers. ‘For individuals who battle to repay, we think this new guidelines […]