Payday lender to pay refunds to 147000 customers after regulator finds it was lending customers more than they could afford to repayBritain’s second biggest payday lender has been ordered to refund £15.4m to 147000 customers after regulators found it was lending more to borrowers than they could afford to repay. The Money Shop and other brands race by Dollar Financial UK – Payday UK, Payday Express and Ladder Loans – handed out short-term loans charging interest rates as tall as 2962%.
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Source: theguardian.com