Sector Regulation Sector Regulation

EU payday loans to be curbed under draft rules tackling minimum loan size, high interest

By Jack Schickler
  • 27 May 2021 06:09
  • 27 May 2021 06:09
The EU plans to outlaw high-interest lending and apply consumer-protection checks to loans under 200 euros ($240), with miscreants fined over 4 percent of turnover, according to documents seen by MLex. 

The plans, which would ban the tying of consumer loans to sales of other products, threaten to throttle the growing EU payday lending

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