Payday Lending Market Investigation Order 2015

The order imposes new obligations on online and high street payday lenders.


Explanatory note

Guide for lenders


This order was made under the market investigations provisions of the Enterprise Act 2002.

It requires:

  • online payday lenders to publish, by 26 May 2017, details of their products on at least one price comparison website which is authorised by the Financial Conduct Authority
  • online and high street payday lenders to provide existing customers with a summary of their cost of borrowing

The Competition and Markets Authority’s (CMA) payday lending market investigation found that a lack of price competition between lenders led to higher costs for borrowers. This order is part of a package of remedies designed to tackle these problems.

Published 13 August 2015
Last updated 3 February 2017 + show all updates
  1. Guide for lenders added.
  2. Obligation to Publish Date added.
  3. First published.