The regulator stated it might take care of the limit for the next 36 months and review it once more in 2020

FCA keeps cash advance limit after review

With its a reaction to a necessitate input (72 web page / 1.86MB PDF) into its report on high-cost credit items, the FCA stated there is proof that the limit regarding the charges charged for high-cost short-term credit (HCSTC) loans – usually referred to as ‘payday’ loans – had led to enhanced results for customers.

The FCA said customers had been having to pay less for credit, repaid on time more regularly, and required less assistance from debt charities. Those charities suggested that Д±ndividuals are presenting by themselves earlier in the day in accordance with reduced debts, suggesting that underlying issues are now being addressed sooner.

The review highlighted problems in other regions of high-cost credit that will be explored more now profoundly.