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Western Circle
Western Circle (trading as Cashfloat) is a British payday loan company offering ''"short-term, high-cost credit"''. The interest charged by the lender is 277.40% pa. The interest is non-compound, as dictated by the FCA. The company declare an APR of 1116% but also claim that the APR measurement is irrelevant for non-compound loans. Currently, the firm operates in the UK market only. The company claims to be technology oriented, and develops its own decision making algorithms. Consumer credit suppliers were regulated in the UK by the Office of Fair Trading (OFT) until April 2014, but are now regulated by the new Financial Conduct Authority (FCA). The firm's activity under the OFT was too small to cause any headlines, and hence didn't get direct criticism like much more active companies, such as Wonga. The current activity of the company is allied to the strict regulations of the FCA. The new regulations force much fairer practices in comparison to the period of 2014, and hence ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Company
A privately held company (or simply a private company) is a company whose shares and related rights or obligations are not offered for public subscription or publicly negotiated in the respective listed markets, but rather the company's stock is offered, owned, traded, exchanged privately, or over-the-counter. In the case of a closed corporation, there are a relatively small number of shareholders or company members. Related terms are closely-held corporation, unquoted company, and unlisted company. Though less visible than their publicly traded counterparts, private companies have major importance in the world's economy. In 2008, the 441 largest private companies in the United States accounted for ($1.8 trillion) in revenues and employed 6.2 million people, according to ''Forbes''. In 2005, using a substantially smaller pool size (22.7%) for comparison, the 339 companies on '' Forbes'' survey of closely held U.S. businesses sold a trillion dollars' worth of goods and services ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
London
London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a major settlement for two millennia. The City of London, its ancient core and financial centre, was founded by the Roman Empire, Romans as ''Londinium'' and retains its medieval boundaries.See also: Independent city#National capitals, Independent city § National capitals The City of Westminster, to the west of the City of London, has for centuries hosted the national Government of the United Kingdom, government and Parliament of the United Kingdom, parliament. Since the 19th century, the name "London" has also referred to the metropolis around this core, historically split between the Counties of England, counties of Middlesex, Essex, Surrey, Kent, and Hertfordshire, which largely comprises Greater London ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Payday Loan
A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a short-term unsecured loan, often characterized by high interest rates. The term "payday" in payday loan refers to when a borrower writes a postdated check to the lender for the payday salary, but receives part of that payday sum in immediate cash from the lender. However, in common parlance, the concept also applies regardless of whether repayment of loans is linked to a borrower's payday. The loans are also sometimes referred to as "cash advances", though that term can also refer to cash provided against a prearranged line of credit such as a credit card. Legislation regarding payday loans varies widely between different countries, and in federal systems, between different states or provinces. To prevent usury (unreasonable and excessive rates of interest), some jurisdictions limit the annual percentage rate (APR) that any lender, including payday ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumer Credit
Credit (from Latin verb ''credit'', meaning "one believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt), but promises either to repay or return those resources (or other materials of equal value) at a later date. In other words, credit is a method of making reciprocity formal, legally enforceable, and extensible to a large group of unrelated people. The resources provided may be financial (e.g. granting a loan), or they may consist of goods or services (e.g. consumer credit). Credit encompasses any form of deferred payment. Credit is extended by a creditor, also known as a lender, to a debtor, also known as a borrower. Etymology The term "credit" was first used in English in the 1520s. The term came "from Middle French crédit (15c.) "belief, trust," from Italian credito, from Latin creditum "a loan, thing entrusted to another," from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Conduct Authority
The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry. The FCA regulates financial firms providing services to consumers and maintains the integrity of the financial markets in the United Kingdom. It focuses on the regulation of conduct by both retail and wholesale financial services firms.Archived here. Like its predecessor the FSA, the FCA is structured as a company limited by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wonga
Wonga may refer to: Species * Wonga pigeon, a pigeon that inhabits areas in eastern Australia * ''P. pandorana'' (wonga vine), a species of the genus '' Pandorea'' Places in Australia Queensland * Wonga, Queensland, a town in Queensland * Wonga Beach, Queensland, a locality in Queensland Victoria * Wonga, a town in South Gippsland Shire, Victoria *Wonga Park, Victoria, a suburb of Melbourne, Victoria *Arthurs Seat, Victoria, a mountainous and small locality, indigenous name Wonga Other uses * Wonga, a British slang term for money * Simon Wonga (1824–1874), aboriginal elder * 2004 Equatorial Guinea coup d'état attempt or Wonga coup * Wonga, a contest on the UK television show ''The Big Breakfast'' * Wonga.com, a UK high-interest payday loan company See also * Wunga (other) Wunga may refer to: * Whoonga, a type of heroin used in South Africa * , an island in North Sumatra North Sumatra ( id, Sumatra Utara) is a province of Indonesia located on the northe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Union
A credit union, a type of financial institution similar to a commercial bank, is a member-owned nonprofit financial cooperative. Credit unions generally provide services to members similar to retail banks, including deposit accounts, provision of credit, and other financial services. In several African countries, credit unions are commonly referred to as SACCOs (Savings and Credit Co-Operative Societies). Worldwide, credit union systems vary significantly in their total assets and average institution asset size, ranging from volunteer operations with a handful of members to institutions with hundreds of thousands of members and assets worth billions of US dollars. In 2018, the number of members in credit unions worldwide was 274 million, with nearly 40 million members having been added since 2016. Leading up to the financial crisis of 2007–2008, commercial banks engaged in approximately five times more subprime lending relative to credit unions and were two and a half ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wonga
Wonga may refer to: Species * Wonga pigeon, a pigeon that inhabits areas in eastern Australia * ''P. pandorana'' (wonga vine), a species of the genus '' Pandorea'' Places in Australia Queensland * Wonga, Queensland, a town in Queensland * Wonga Beach, Queensland, a locality in Queensland Victoria * Wonga, a town in South Gippsland Shire, Victoria *Wonga Park, Victoria, a suburb of Melbourne, Victoria *Arthurs Seat, Victoria, a mountainous and small locality, indigenous name Wonga Other uses * Wonga, a British slang term for money * Simon Wonga (1824–1874), aboriginal elder * 2004 Equatorial Guinea coup d'état attempt or Wonga coup * Wonga, a contest on the UK television show ''The Big Breakfast'' * Wonga.com, a UK high-interest payday loan company See also * Wunga (other) Wunga may refer to: * Whoonga, a type of heroin used in South Africa * , an island in North Sumatra North Sumatra ( id, Sumatra Utara) is a province of Indonesia located on the northe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dollar Financial Group
Money Mart Financial Services, formerly Dollar Financial Group, is a financial services company with over 600 locations in Canada and the U.S. The company offers a range of financial services, including installment loan, cash advance/ payday loan, check cashing, prepaid card, and money transfer services. It focuses on the underbanked and subprime customer segments. Prior to 2018, the name 'Money Mart' was associated only with the 38-year-old Canadian unit DFG acquired in November 1996. Money Mart Financial Services operates under a number of retail brands. In Canada, the company has Money Mart and Insta-Chèques stores. In the U.S. it has Money Mart and The Check Cashing Store locations. Some services are also offered online via the company’s consumer websites. History logo still used at many locations Founded in 1979 as Monetary Management Corporation, the company changed its name to Dollar Financial Group in 1990. In 1996, it purchased Money Mart, which was founded as an e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money Gap Group
Money Gap Ltd (trading as CashLady) is UK-based financial services company and a short-term loan broker A broker is a person or firm who arranges transactions between a buyer and a seller for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neither role should be confu ... operating in London, England. Founded in 2008, Money Gap works with various payday and short-term loan providers, matching applicants with lenders. MGG acts as an intermediary in this capacity. Regulatory action In 2013 Cash Lady was heavily criticised over an advertising campaign featuring Kerry Katona. Following complaints to the Advertising Standards Authority (United Kingdom), CashLady advertisements were re-edited to remove the phrase 'Fast Cash for Fast Lives'. The ASA believed that this phrase implied that a payday loan would ‘help fund a high-flying celebrity lifestyle’. In July 2013, (one month later) Kerry Kato ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Satsuma Loans
Satsuma Loans (a trading name of Provident Personal Credit) is an online-only loan provider offering short-term loans. It was launched by doorstep lender Provident Financial in 2013. Satsuma Loans charges a typical annual percentage rate of 991% , with a maximum interest rate of 1,575%. Satsuma lends up to £1,000 to first time customers which can be borrowed over a 12-month period, incurring an interest charge of £990 on a £1,000 loan. Satsuma Loans offer fixed weekly or monthly repayment plans and claim that there are no hidden fees or charges with their loans. Satsuma had £5 million of loans as of 2015, increasing from £1.8 million the previous year. __TOC__ Sponsorship Between 2014 and 2016 Satsuma Loans sponsored RFU Championship side Yorkshire Carnegie in a deal worth £600,000. In 2016 it was announced that Satsuma Loans would become an official partner of Sunderland A.F.C. This prompted Sharon Hodgson, the MP for Washington and Sunderland West, to write to the club ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
