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:
Use your Love IOM card credits before July, urge gov
A government gift card scheme is urging people to spend their outstanding balance - or face losing it.
Almost 200 calls made to mental health charity's crisis line
An Island mental health charity says 198 calls were received over the last six months to its crisis line.
Exhibition featuring local artist's work on display from this weekend
An art exhibition featuring a local artist will open this weekend.
School suspensions being looked into, says MHK
More youngsters are being suspended from school, and the Education Department is looking into it.
Manxman to be swapped with Ben-my-Chree on Thursday
The Steam Packet Company says there's a slight change to its schedules this week.
Teeth survey for children aged five launched
Public Health has launched a survey to find out about five-year-old children's teeth.
Treasury Minister says VAT cuts for hospitality means cuts or tax increase elsewhere
The Island's Treasury Minister says a VAT cut for hospitality businesses would mean service cuts or more taxes elsewhere.
Commissioner ‘refutes’ allegations of misrepresenting Roundhouse access issues
Braddan Commissioners says it ‘refutes’ any allegations that it’s acting in ‘bad faith’ or ‘peddling misrepresentations’ about access to The Roundhouse.
