OFT raids payday lenders

The Office of Fair Trading (OFT) has stepped up its campaign against payday lending firms by raiding their business properties, data from law firm Pinsent Masons revealed today. The business regulator made 68 searches in the first half of 2012, the data showed, compared to the one it made over the whole of 2011. “The OFT is taking a very pro-active approach towards payday lenders,” said Ian Roberts at Pinsent Masons.