What is the current value of the payday loan industry?
Payday Loan Interest To Be Capped From Jananuary

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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
5 billion pounds
1 billion pounds
10 billion pounds
2.5 billion pounds
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is the financial regulator implementing new measures in the payday loan industry?
To encourage more borrowing
To promote international expansion
To reduce consumer costs and abuses
To increase the number of lenders
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What caused the increased demand for payday loans?
Recession and reduced bank lending
Government incentives
High employment rates
Increased bank lending
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a potential risk for people who lose access to payday loans?
Turning to illegal lenders
More investment opportunities
Increased savings
Higher credit scores
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the government preventing payday companies from evading new regulations?
By allowing international expansion
By giving the FCA power to stop them from moving abroad
By offering tax incentives
By reducing interest rates
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