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:
Afternoon ferry is next to be cancelled by weather
The Steam Packet says its 2.15pm crossing from Heysham to Douglas will no longer be going ahead this Sunday, April 5.
Difficult to compare Island's Hospice funding with UK, says minister
The Health Minister says comparisons between government funding of hospices here and abroad must be made with caution.
Mountain Road to close because of gales
The Department of Infrastructure says it'll soon be closing the Mountain Road because of high winds.
New amber warning issued for tonight's storm
Ronaldsway Met Office has upgraded tonight's weather warning from yellow to amber.
Police appeal over theft of building materials
Police in the West are appealing for information about stolen buildings materials.
One of capital's oldest buildings may become housing
One of the oldest buildings in Douglas could become residential accommodation, according to an estate agent.
New NHS safety rule to be brought in on Island
A new NHS rule aimed at stopping conditions being misdiagnosed will be adopted on the Island.
Two city streets to shut for over six months
Two streets in the centre of Douglas will be partly closed for over six months.
