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Too little cost competition implies that cash advance customers might be having to pay way too much with regards to their loans, in accordance with findings that are provisional your competitors and areas Authority (CMA).

The group of independent CMA Panel Members investigating this market says that the absence of price competition could be adding ВЈ5 to ВЈ10 to the average cost of a payday loan, relative to a typical loan of ВЈ260 taken out for just over 3 weeks in a summary of its provisional findings published today.