Sala 35 – Fotografía contemporánea

Reactions to Annotated Problems Statement and Performing Papers

Reactions to Annotated Problems Statement and Performing Papers

  • 118 118 Money (PDF, 322Kb) 17.4.14
  • CashEuroNetUK, response that is LLC the annotated problems declaration (PDF, 2.2Mb) 17.4.14
  • CashEuroNetUK, response that is LLC your competitors between payday lenders and other credit providers working paper (PDF, 134Kb) 17.4.14
  • CashEuroNetUK, LLC response to the shoppers and their loans presentation (PDF, 67Kb) 17.4.14
  • CashEuroNetUK, response that is LLC the entry and expansion working paper (PDF, 285Kb) 17.4.14
  • CashEuroNetUK, LLC response to the payday lender rates working paper (PDF, 55Kb) 17.4.14
  • CashEuroNetUK, LLC response to the values in the long run presentation (PDF, 64 Kb) 17.4.14
  • CashEuroNetUK, response that is LLC the perform clients presentation (PDF, 108Kb) 17.4.14
  • CashEuroNetUK, LLC response to the doing your research working paper (PDF, 87Kb) 17.4.14
  • CashEuroNet, LLC response to your profitability of payday financing organizations working paper (PDF, 101 Kb) 25.4.14
  • CashEuroNetUK, LLC – a reaction to further working papers granted by your competitors and areas Authority on10 April 2014 (PDF, 275 Kb) 25.4.14
  • Customer Finance Association (PDF, 495Kb) 17.4.14
  • DFC Worldwide Corp (PDF, 706Kb) 17.4.14
  • DFC worldwide Corp a reaction to the performing Paper and presentations posted on 10 April 09.5.14
  • MYJAR a reaction to Competition in Product Innovation paper this is certainly working
  • MYJAR reaction to cash advance items working paper 27.5.14
  • MYJAR reaction to the Annotated Issues Statement 27.5.14
  • MYJAR a reaction to your competitors between payday lenders and other credit providers paper that is working
  • What the law states Community of Scotland 6.5.14
  • The United Kingdom Cards Association (PDF, 4Mb) 17.4.14
  • Wonga Group Limited reaction to the Working Paper and presentations posted on 10 April 9.5.14
  • Wonga Group Limited (PDF, 1.6Mb) 17.4.14
  • Wonga Group Limited’s a reaction to the profitability of payday lending businesses working paper (PDF, 79 Kb) 25.4.14
  • Wonga Group Limited, the profitability of their British payday business into the context for the CMA’s market investigation – report by AlixPartners British LLP (PDF, 523 Kb) 25.4.14

CC-commissioned research

  • TNS BMRB study report (PDF, 11.0 Mb) 31.1.14
  • TNS BMRB tables (PDF, 10.2 Mb) 31.1.14
  • TNS BMRB technical report (PDF, 810 Kb) 14.3.14

Summaries of hearings held with events

  • Ariste Holding (Money Genie) 6.5.14
  • Barclays Bank plc (PDF, 37 Kb) 7.2.14
  • Money Converters British plus the Consumer Finance Association (PDF, 140 Kb) 2.5.14
  • CashEuroNetUK, LLC (PDF, 150 KB) 6.5.14
  • DFC Worldwide Corp 30.5.14
  • Lloyds Banking Group (PDF, 43 Kb) 7.2.14
  • Mr Lender while the credit rating and Trade Association (PDF 143, Kb) 2.5.14
  • MYJAR (PDF, 119 KB) 6.6.14
  • Provident Financial plc (PDF, 45 Kb) 7.2.14
  • SRC Transatlantic Limited/ WageDayAdvance Limited 12.5.14
  • The Cash Shop (139, PDF Kb) 02.5.14
  • The Financial Conduct Authority (PDF, 161 KB) 10.6.14
  • Think Finance (UK) Limited 30.5.14
  • Transcript regarding the hearing that is multi-lateral customer bodies (PDF, 326 Kb) 07.2.14
  • Transcript regarding the hearing that is multi-lateral using the trade associations and their people 30.5.14
  • Wizzcash (PDF 142, Kb) 2.5.14
  • Wonga 27.5.14

Reactions to problems declaration

  • BCCA (PDF, 113 Kb) 26.9.13
  • Money Converters (UK) Limited (PDF, 64 Kb) 30.9.13
  • CashEuroNetUK, LLC 7.10.13
  • People Guidance (PDF, 50 Kb) 26.9.13
  • Citizens Guidance Scotland (PDF, 395 Kb) 26.9.13
  • Customer Finance Association (PDF, 73 Kb) 26.9.13
  • Customer Finance Association response that is supplementary
  • Financial Obligation Guidance Foundation (PDF, 295 Kb) 26.9.13
  • DFC Worldwide Corp 4.10.13
  • Law Society of Scotland (PDF, 40 Kb) 30.9.13
  • installment loans

  • Cash Information Trust (PDF, 66 Kb) 26.9.13
  • MYJAR (PDF, 97 Kb) 30.8.13
  • StepChange financial obligation Charity (PDF, 441 Kb) 3.10.13
  • Think Finance (UK) (PDF, 498 Kb) 26.9.13
  • Veritec Options LLC (PDF, 273 Kb) 3.10.13
  • Which? (PDF, 261 Kb) 26.9.13
  • Wonga Group Limited (PDF, 3.5 Mb) 4.10.13

Submissions

  • Albemarle & Bond (PDF, 33 Kb) 30.8.13
  • Amigo Loans Limited (PDF, 1.2Mb) 17.4.14
  • Credit Rating Trade Association (PDF, 28 Kb) 22.8.13
  • CashEuroNetUK, LLC (PDF, 329 KB) 27.8.13
  • DFC Worldwide Corp 20.8.13
  • Equifax Ltd (PDF, 43 Kb) 20.8.13
  • LOAF (PDF, 117 Kb) 21.1.14
  • Mutual Clothing & Provide Co Ltd (PDF, 326 Kb) 20.8.13
  • Think Finance (UK) Ltd (PDF, 34 Kb) 20.8.13
  • Wonga Group Limited (PDF, 1.1 Mb) 20.8.13

Invitation to comment on agencies invited to tender on research: Now closed

  • Invitation to comment on draft study questionnaire (PDF, 223 Kb) 26.9.13
  • Invitation to comment on visit of marketing research agency and study methodology (PDF, 43 Kb) 20.8.13
  • Invitation to comment on agencies invited to tender for researching the market (PDF, 41 Kb) 7.8.13

Problems declaration

  • Annotated problems declaration (PDF, 176 Kb) 31.1.14
  • Dilemmas declaration (PDF, 115 Kb) 14.8.13
  • News release: Payday financing research – issues declaration 14.8.13

Regards to guide

  • Terms of reference (PDF, 50 Kb) 27.6.13

Marketplace investigation guide team

Situation opened

Stage 1

Date of guide: 27 2013 june

Overview of work

On 6 March 2013, the OFT published an appointment document aiming its provisional choice to mention the payday financing market in britain into the CC and exposed a general public assessment. The assessment document identified lots of features that the OFT suspected were – either separately or perhaps in combination – preventing, restricting or distorting competition in the forex market. The consultation that is public on 1 might 2013.

On 27 June 2013, the OFT announced its decision that is final to industry for payday financing in great britain towards the Competition Commission (CC) for an industry research. Having considered reactions to your consultation, the OFT stayed for the view that there have been reasonable grounds for suspecting that has for the payday financing market had been preventing, limiting or competition that is distorting.

The features identified by the OFT were:

Variability in conformity – the OFT Compliance Review found varying quantities of non-compliance with relevant guidance and law by payday lenders. The OFT suspects that people organizations which invest more hours and energy in complying could be put at a disadvantage that is competitive those that spend less.

Insufficient price transparency – the OFT has identified techniques which will make it burdensome for consumers to recognize or compare the complete price of payday loans effortlessly in the point whenever loans are removed. The OFT suspects that these methods undermine cost competition by making customers in general less able to constraining rates.

Cost insensitive customers – a substantial percentage of payday borrowers have woeful credit records, restricted use of other designs of credit and/or pushing needs. This might make sure they are less cost delicate which, the OFT suspects, weakens cost competition between payday lenders.

Obstacles to switching – you can find obstacles to switching between payday loan providers or to alternate services and products or choices during the true point of rollover. The OFT suspects why these obstacles benefit incumbent lenders and stop, restrict or distort competition from feasible lenders that are alternative the purpose of rollover.

Market concentration – the OFT suspects that high concentration and obstacles to entry and expansion exacerbate the avoidance, limitation or distortion of competition as a result of the features identified above.

Action

The OFT, in workout of their capabilities under Sections 131 associated with the Enterprise Act 2002 (the Act), referred the supply as well as payday advances in britain into the CC for research.

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