CFO payday lender agrees to compensate customers

CFO Lending will provide 34.8 million pounds in compensation to 97,000 clients after the Financial Conduct Authority discovered the British payday lender was treating them unfairly, the watchdog said on Monday. The Financial Conduct Authority (FCA) has agreed a number of redress schemes with payday lenders since 2014 as it cracks down on a sector under fire from lawmakers and the Church of England alike for piling pressure on the poor with high interest rates. The watchdog said the compensation