Financial Services Financial Services

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

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