OFT to review pay day lenders in Isle of Man

Tynwald buildings, Douglas

Tynwald buildings, Douglas

13
Have your say

The Office of Fair Trading will be reviewing the need for further consumer protection from pay day lenders.

Treasury Minister Eddie Teare was quizzed in the House of Keys by Peter Karran (Lib Van, Onchan).

Mr Teare said it was a matter for the OFT which last year published a report concluding money lenders operating locally market were acting responsibly. He said the OFT will be reviewing that in light of planned new measures by the UK Financial Conduct Authority.

Back to the top of the page