United Kingdom-based payday lender Cheque Centre is permanently leaving the payday loan business and has suspended related debt collection calls following enforcement action by the Financial Conduct Authority.

The lender, in a voluntary agreement with FCA, will no longer sell loans that must be repaid in one lump sum. It has stopped debt collection calls to customers until it reviews and improves its processes. It further has agreed to amend its policies and procedures to ensure they are fully aligned with the FCA’s rules.

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