The UK OFT refers payday lending market to the Competition Commission

United Kingdom: The OFT refers Payday Lending Market to the Competition Commission* The UK Office of Fair Trading refers the market for payday lending to the Competition Commission On 27 June 2013, the Office of Fair Trading (OFT) referred the market for payday lending in the UK to the Competition Commission because of concerns the OFT has about deep-rooted problems with the way competition works. The OFT announced its provisional decision to refer the market in March and carried out a public consultation. Having considered responses submitted

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European Competition Network Brief, The UK OFT refers payday lending market to the Competition Commission, 27 June 2013, e-Competitions Bulletin Financial services, Art. N° 53391

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