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Today New caps on payday lenders come into force.

Today New caps on payday lenders come into force.

Photograph: Dan Kitwood/Getty Images

New caps on payday lenders enter into force today. Photograph: Dan Kitwood/Getty Images

More than a million individuals will begin to see the price of their fall that is borrowing now brand new cost caps on pay day loans took impact.

Nonetheless, very very early indications are that lots of of the sector’s bigger players will soon be charging the most allowed to beneath the regime that is new instead using the possibility to set their charges underneath the limit.