CMA publishes payday loan proposals: CMA has published its proposals to encourage the development of a high quality price comparison sector for payday loans. It wants payday lenders to provide details of their products on accredited price comparison websites. It is recommending that lead generators explain to consumers what they do. Other proposals include measures to improve transparency on late fees and charges, and helping borrowers to shop around without damaging their credit record. It invites comments by 30 October. FCA has to impose a price cap on the cost of payday loans by 2 January 2015. (Source: CMA Publishes Payday Loan Proposals)