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By the late 1990s, the savings and loans industry had recovered.
The recommendations were made after a 20-month inquiry into the payday loans industry by the CMA.
Wonga was forced to take action by the Financial Conduct Authority in an unprecedented crackdown on the payday loans industry.
"The payday loans industry must focus on boosting customer welfare, rather than boosting profits at the expense of hard-pressed householders who struggle to pay back unaffordable loans".
He will claim the payday loans industry is making very high profits, and this levy need not lead to an increase in the cost of loans.
The payday loans industry is undergoing a major shakeup as regulators seek to make the market fairer for cash-strapped consumers.
Similar(33)
When the savings-and-loans industry was deregulated in 1982, it was allowed to take risks with investments.
In the case of Latin America, American property companies and the country's savings-and-loans industry, this assumption sadly proved a little wide of the mark.
The student loan industry could be in for more jolts.
For decades, the savings and loan industry existed solely to make loans to home buyers.
Now the $85 billion-a-year student-loan industry is joining them in the dock.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com