UK Payday Lenders are dropping like flies, as The Telegraph reported another four firms have exited the market. To date, a total of 19 payday companies have left the market as a result of the Office of Fair Trade’s crackdown. The OFT has not yet publicly updated the list that informs the public about the names of the firms.
The Commission announced that the investigation is still in its initial stages, and no conclusions about the payday lending market case have been made. Provisional findings along with a full report are expected to be released by the end of 2014.