The problem of commissions payable to creditors and credit intermediaries by 3rd parties deserves special mention right here.


A ban on advertising payday loans has recently been introduced in the Netherlands in response to this problem

What exactly is more, into the Member States that have actually introduced reasonably strict lending that is responsible, the regulatory failure to handle reckless payday lending might be brought on by regulatory arbitrage, whereby credit providers from Member States with strict laws participate in cross-border activities in nations with weaker laws. This issue has manifested itself, as an example, when you look at the Netherlands. Continue reading