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Let me make it clear about cash advance costs limit takes effect

Let me make it clear about cash advance costs limit takes effect

By Kevin PeacheyPersonal finance reporter, BBC Information

A limit regarding the price of payday advances enforced because of the populous City regulator has enter into impact.

Pay day loan prices is likely to be capped at 0.8 percent per of the amount borrowed, and no-one will have to pay back more than twice the amount they borrowed day.