The FCA will stop short of putting a cap on the total cost of credit

Payday loans: Rogue lenders face closure for ‘preying on the vulnerable’ in new crackdown

The Financial Conduct Authority today launched tough new rules to stop payday lenders preying on vulnerable people and forcing hard-up folk into serious debt problems.

Money alert: Clydesdale Bank forced to pay compensation for mortgage error

Clydesdale Bank is being forced to write to its mortgage customers again after botching the way it dealt with a previous error when it miscalculated repayments on more than 42,500 mortgages.

Lenders continue to play tough with borrowers who have even the faintest stain on their credit record

Credit card rejection hits three million

Hard-line lenders are cherry-picking the best customers as hard-up folk run up record debts

PPI victims let down again by lenders

The City watchdog must name and shame the firms that are failing to treat their customers fairly over compensation for missold payment protection insurance.

What will stop those dodgy payday lenders?

The City watchdog is set to publish new rules for high-cost credit firms. Simon Read asks what they should include

Barclays' rate bungle could cost it £100m

Some 300,000 people who took out personal loans through Barclays are in line for compensation worth hundreds of pounds after the bank admitted it had made mistakes on their paperwork.

Money Insider: Steer clear of big banks' high rates on small loans

Interest rates are at rock bottom if you're in the market for a five-figure personal loan from your bank. But if you apply to borrow a smaller sum you'll be in for a nasty surprise.

Simon Read: Ten million adults forced to borrow last year

Some 10m people took out a loan in the past 12 months with a third using the cash to pay for food and basic living essentials, according to research by the affordable housing group Circle.

Simon Read: Swinson must deliver on crackdown promise

At the Liberal Democrats party conference this week, consumer affairs minister Jo Swinson promised: "Later this month tough new rules proposed for payday lenders will be published by the Financial Conduct Authority (FCA), which takes over responsibility for the industry from April.

Is one-year borrowing worse than a payday loan?

You don't have to pay 5,853 per cent interest to get cash... Chiara Cavaglieri checks other options

Lenders using CPAs to exploit consumers

Hard-up consumers are being exploited by payday lenders who drain their bank accounts using continuous payment authorities (CPAs).

Simon Read: Getting help to the desperate can save their lives

One in three people contacting a debt charity had either attempted or contemplated killing themselves because of their financial problems, figures published this week showed.

Why friends in need are banking on a loan

With payday loan companies charging up to 5,853 per cent APR, more than half the UK's population is turning not just to the bank of mum and dad but the bank of mates too. Around 57 per cent of us "often" lend to friends and family and one in ten have handed over between £250 and £1,000 to loved ones, figures from Gocompare.com reveal. More than a third of us have lent money to pay off someone else's debts and one in four have covered food, shopping or other bills.

Simon Read: No sympathy for dollar financial's £10m-a-year loss

Poor Dollar Financial. The giant American credit firm reported last week that its profits have been hit by the payday loan probe by the Office of Fair Trading.

More than 32 million people pestered by PPI claims

The Government must give regulators more powers to crack down on unscrupulous claims firms that are contacting consumers without permission, Which? has demanded.

Money
Splash out: at Legoland Windsor you can get a two-for-one deal
deals
Money
Destination Scotland: Virgin is offering a new deal
deals
Money
Bob Bob Ricard's newly opened Club Room
deals
Money
One reader complained that he would be better off if he kept his money by his bed
advice
Money
'The Lego Movie' has been one of the box office hits of 2014
deals
Money
Sir Michael Parkinson, and other well-known people, should think twice before fronting ads for financial products
comment
Money
BA travel rewards are taxiing down the runway
deals
Money
TSB boss Paul Pester wants to take on the high street giants and 'help create thriving local communities all across Britain'
comment
Money
Sony is hoping to attract fans of Wimbledon with its offer
deals
Money
Look before you leap: a travel policy may not pay out if the customer 'hasn’t been very careful' in terms of, say, adventure or alcohol
advice
Money
Nearly time for kick off: Young Brazil fans playing football on the outskirts of Sao Paulo
advice
Money
Advance bookings direct with rail companies offers huge savings
deals
Money
Chuka Umunna, the shadow, Business Secretary, is backing constituency members who are in dispute with a landlord Charlie Forgham-Bailey
comment
Money
As travel takes off for the World Cup, some airport car parking spots are on offer at reduced rates
deals
Money
The estate of the nation: the 0 per cent deal from Leeds has been launched with Barratt
advice
Money
Could it be magic? From left, Howard Donald, Gary Barlow and Mark Owen made their tax bills disappear. But, it is argued, we all avoid tax
comment
Money
What a racquet: David Lloyd is offering free coaching
deals
Money
The building society says there is a 'fundamental link' between performance and pay. But the link is looking very stretched
comment
Money
A retired couple who had been taking holidays in Florida for 30 years suddenly found that the cost of cover had soared
news
Money
Campaigners protest in March against the Justice Secretary Chris Grayling and the erosion in legal aid
comment
Financial products from our partners
Property search
On Google+
The Independent
 
Independent
The Independent on Google+
i100
i100
i100 on Google+
i Newspaper
 
TheIPaper
The Independent around the web
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

Property search
iJobs Job Widget
iJobs Money & Business

Data Governance Manager (Solvency II) – Contract – Up to £450 daily rate, 6 month (may go Permanent)

£350 - £450 Per Day: Clearwater People Solutions Ltd: We are currently looking...

Java Developer - Banking - London - Up to £560/day

£500 - £560 per day: Orgtel: Java Developer FX - Banking - London - Up to £560...

HR Business Analyst, Bristol, £350-400pd

£350 - £400 per day + competitive: Orgtel: My client, a leading bank, is curre...

Account Manager - (Product & Account Management, Marketing)

£26000 - £30000 per annum + Benefits: Ashdown Group: Account Manager - (Produc...

ES Rentals

    Day In a Page

    Burgundy, the River Rhone & Provence – MS Swiss Corona - seven nights from £999pp
    Lake Maggiore, Orta and the Matterhorn – seven nights from £899pp
    Sicily – seven nights from £939pp
    Pompeii, Capri and the Bay of Naples - seven nights from £799pp
    Istanbul Ephesus & Troy – six nights from £859pp
    Mary Rose – two nights from £319pp
    The children were playing in the street with toy guns. The air strikes were tragically real

    The air strikes were tragically real

    The children were playing in the street with toy guns
    Boozy, ignorant, intolerant, but very polite – The British, as others see us

    Britain as others see us

    Boozy, ignorant, intolerant, but very polite
    Countries that don’t survey their tigers risk losing them altogether

    Countries that don’t survey their tigers risk losing them

    Jonathon Porritt sounds the alarm
    How did our legends really begin?

    How did our legends really begin?

    Applying the theory of evolution to the world's many mythologies
    Watch out: Lambrusco is back on the menu

    Lambrusco is back on the menu

    Naff Seventies corner-shop staple is this year's Aperol Spritz
    A new Russian revolution: Cracks start to appear in Putin’s Kremlin power bloc

    A new Russian revolution

    Cracks start to appear in Putin’s Kremlin power bloc
    Eugene de Kock: Apartheid’s sadistic killer that his country cannot forgive

    Apartheid’s sadistic killer that his country cannot forgive

    The debate rages in South Africa over whether Eugene de Kock should ever be released from jail
    Standing my ground: If sitting is bad for your health, what happens when you stay on your feet for a whole month?

    Standing my ground

    If sitting is bad for your health, what happens when you stay on your feet for a whole month?
    Commonwealth Games 2014: Dai Greene prays for chance to rebuild after injury agony

    Greene prays for chance to rebuild after injury agony

    Welsh hurdler was World, European and Commonwealth champion, but then the injuries crept in
    Israel-Gaza conflict: Secret report helps Israelis to hide facts

    Patrick Cockburn: Secret report helps Israel to hide facts

    The slickness of Israel's spokesmen is rooted in directions set down by pollster Frank Luntz
    The man who dared to go on holiday

    The man who dared to go on holiday

    New York's mayor has taken a vacation - in a nation that has still to enforce paid leave, it caused quite a stir, reports Rupert Cornwell
    Best comedians: How the professionals go about their funny business, from Sarah Millican to Marcus Brigstocke

    Best comedians: How the professionals go about their funny business

    For all those wanting to know how stand-ups keep standing, here are some of the best moments
    The Guest List 2014: Forget the Man Booker longlist, Literary Editor Katy Guest offers her alternative picks

    The Guest List 2014

    Forget the Man Booker longlist, Literary Editor Katy Guest offers her alternative picks
    Jokes on Hollywood: 'With comedy film audiences shrinking, it’s time to move on'

    Jokes on Hollywood

    With comedy film audiences shrinking, it’s time to move on