The Office of Fair Trading says it will follow a new UK law capping the interest on payday loans.
Legislation is being introduced by the UK Government to hold payday lenders to account - with controls on charges including arrangement and penalty fees.
The OFT says that whilst payday lenders have a role to play in providing short-term credit, it’s vital that consumers have options beyond legal and illegal loan sharks.
Chief officer Mike Ball says a lot of locals use the UK providers:
Woman releases fundraising poetry book
A book of poetry has been published by a local author in aid of cancer charities.
Castletown hosts tin bath racing
There'll be road closures in central Castletown today as the World Tin Bath Championships get underway.
Mountain Road closed for skateboarding today
The northern end of the Mountain Road will be shut for much of today.
Peel ready for huge community sale later
Peel will host the Island's biggest jumble sale today.
Cruise ship makes first stop of week
A cruise ship is making the first of three visits to the Isle of Man in a week this morning.
Tin bath races mean bus diversions tomorrow
Bus Vannin's warning of some disruption in the south of the Island tomorrow as an iconic Manx sporting event gets underway.
MHK wants backing for changes to Tynwald members' pay
Do pay structures for Tynwald members need looking at again?
Storage firm announces closure
A storage business in Crosby says it's shutting its doors later this month.
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