The Competition Commission has published an issues statement relating to its investigation into payday lending. It notes that the focus of its market investigation is how competition works in the payday lending market and discusses whether there are features of payday loans that prevent, restrict or distort competition in the UK. The investigation is not about compliance with regulatory standards or affordability issues unless these affect competition. The issues statement explains that the Competition Commission will consider the market, its regulation and the providers of the product. It has identified and will analyse potential areas of consumer harm, and whether any prevention, restriction or distortion of competition has an adverse effect on competition. It asks for comments by 20 September. (Source: Payday Lending Issues Statement)