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Yes Loans, Blue Sky Personal Finance and Money Worries have 28 days to appeal the OFT's decision.
In a statement, directors of Yes Loans said: "We have all worked tirelessly to implement significant and fundamental advancements to the businesses.
The OFT said Yes Loans, which operates through 10 other brands including Blue Sky Personal Finance Limited and Money Worries Limited, is "unfit" to hold a consumer credit licence.
If successful, it will put payday loans broker Yes Loans out of business – but the firm has 28 days to appeal and can continue arranging new loans in that time due to limitations in consumer credit regulations.
Currently there are several payday loan firms on the list, including Yes Loans and MCO Capital, which operate as Paycheckcredit, Popcredit and Speedcredit, which are allowed to offer loans to borrowers, despite causing concerns to the regulator.
Matt Hartley, spokesman for the Consumer Credit Counselling Service, said: "Lenders and brokers have an obligation to treat customers fairly and in the case of Yes Loans this was clearly not the case.
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