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