Payday Loan Company Wont Compensate Customers

Monday 6th May 2024

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

Friday 3rd May 2024

Payday lenders are being told to foresighted 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 […]