DOORSTEP loan firms will have to make the cost of rolling over borrowing clearer to customers, under new rules unveiled by City watchdog today in a victory for The Sun.
Firms have also been warned about contacting potential customers who have not applied for loans.
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Although, the Financial Conduct Authority has ruled out imposing a cap on the cost of borrowing for doortep loan sector.
The new rules come into force from tomorrow but firms have three months to make sure they are fully compliant with them.
The FCA has also announced store and catalogue firms will also have overhaul the way they advertise buy now, pay later offers….
Read the full article at: https://www.thesun.co.uk/money/8004340/doorstep-loan-crackdown-store-cards/