A credit that is sub-prime accused of “deceitful and oppressive company techniques” has had its licence revoked by the trading watchdog.
Yes Loans arranged expensive payday advances for a few customers as opposed to the items these people were initially asking about and misled other people into thinking it absolutely was a financial institution instead of a credit broker, work of Fair Trading (OFT) found.
The company emphasised so it hadn’t turn off and said its licence permitted it to continue investing through any appeals procedure.
Customer groups welcomed the OFT’s decision, with Sarah Brooks, director of economic solutions at Customer Focus, saying it showed up “long overdue”. Continue reading Exactly about pay day loans business Yes Loans has permit revoked