Uncle Buck Comments on CMA's Change to Price Comparison Website Remedy Proposal
The Competition and Markets Authority (CMA) issued a revised price comparison website (PCW) remedy proposal in December 2014. Initially, the CMA put forward the idea of an accreditation scheme where PCWs wishing to offer payday loan comparisons would need to seek accreditation. The scheme was proposed as voluntary. The CMA suggested the Financial Conduct Authority (FCA) were well placed to determine and administer the scheme. Following representations by the FCA, the CMA have amended the PCW remedy and issued a consultation thereon. The FCA has proposed that the remedy should be implemented through its authorization regime and would therefore apply to all PCWs operating in the payday market, creating common standards.
Uncle Buck Payday Loans Announces Short-Term Online Lending Options for UK Consumers
It is not unusual for consumers to need to borrow money to make ends meet from time to time. Household bills and pending invoices may be due in advance of a paycheck or expected payment. The need for additional finances can also be to cope with an emergency situation or urgent expenditure that will not wait. It is at this time that financial advisers often recommend what is known as a "payday loan" to make ends meet for a short period.