The Office of Fair Trading says it will follow a new UK law capping the interest on payday loans.
Legislation is being introduced by the UK Government to hold payday lenders to account - with controls on charges including arrangement and penalty fees.
The OFT says that whilst payday lenders have a role to play in providing short-term credit, it’s vital that consumers have options beyond legal and illegal loan sharks.
Chief officer Mike Ball says a lot of locals use the UK providers:
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