Payday Loan Company Wont Compensate Customers

Wednesday 14th November 2018

Liquidator’s working on behalf of Payday Lender Cash Genie have revealed that there is no money left to pay compensation to customers.
In 2016, Cash Genie entered into a solvent liquidation process and ceased trading. Despite this, the Payday Lender said it still had enough income to repay the £20 million owed to […]

The FCA says payday lenders should offer compensation

Tuesday 16th October 2018

Payday lenders are being told to proactively compensate former customers, even if it threatens the company with bankruptcy. The regulator is setting out how firms should respond to a surge in complaints over unaffordable lending. It comes after the collapse of Wonga in August, the payday lender famous for its extortionate interest […]