OFT has released an update of the results to date of the payday lending review. As a consequence of OFT's requirement that 50 payday lenders prove they have addressed areas of non-compliance, 14 lenders are leaving the market, three of which have surrendered their licences. OFT had previously revoked three firms' licences and another two firms had surrendered their licence. (Source: OFT Payday Lending Compliance Review)