Sentence examples for use of continuous payment from inspiring English sources

Those practices include the use of continuous payment authorities (CPAs), which allow lenders to withdraw money from borrowers' bank accounts.

"We are keen to look at the automatic rollover of loans, the use of continuous payment authorities, and the upfront credit checks," he said.

She has been instrumental in forcing lenders to scale back their use of "continuous payment authority", the crucial weapon payday merchants use to raid accounts.

They also cut back the use of continuous payment authorities so lenders can now only make two unsuccessful attempts to claw money out of a borrower's account.

Continuous payments Cates is also very concerned about the use of continuous payment authorities (CPA), which enable short-term lenders to collect money irrespective of the borrower's wishes or ability to pay.

Blomfield said: "As well as capping the cost of credit, the government needd to address the issues of affordability checks, rollovers, use of continuous payment authorities, support for debt advice and regulation of advertising".

The OFT is also likely to reiterate its warning about the misuse of continuous payment authorities.

The regulator is particularly keen to look at the automatic "rollover" of overdue loans, which are supposedly designed to be short-term products; the use of so-called continuous payment authorities, which allow lenders to keep trying to collect missed repayments from a borrower's debit card; and problems with upfront credit checks.

It also plans to slash the number of times payday firms can grab cash out of people's accounts by allowing them to use continuous payment authorities (CPAs) only twice.

restricting to just two the number of times a firm can seek repayment using a continuous payment authority.

Payday lenders use continuous payment authorities to get money from borrowers' accounts.