Payday loans 'more expensive'
The Office of Fair Trading has referred the payday lending industry to the Competition Commission because of concerns it has about "deep-rooted" problems with the way the competition works.
Payday loan companies 'will be investigated'
She borrowed almost 200 pounds but is now facing a bill of more than two thousand - from a payday loan company. It means Steve Doran's plans to get married and buy a house are now impossible.
Today, the Goverment announced the biggest investigation into the industry - as demanded by many MPs. Pay day loan companies are notorious for massive interest charges.
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