http://www.bbc.co.uk/news/uk-19598492

Charming. Though I find it hard to have sympathy sometimes for a lot of the people using those schemes

If they're legally obliged to cancel them, how can they justofy not doing? Especially as the bank will be liable to refund the customer.Idiots.

The article seems to cite no actual reasons from the banks for not cancelling, just wooly phrases like "in some circumstances".

Given the segment on Watchdog about Wonga not even checking for fraudulent applications seemingly properly, I suspect the payday loan sector sails pretty close to the wind on a lot of things.

The claim that they cannot cancel repayments to financial firms is probably a way to guarantee that they get priority over all other debts and payments. This needs to be banned and banks fined for each and every single case that this is not followed. Only once the fines start to destroy banks profits will they do anything to stop this practice. It is all so predatory.

It already is against the rules, and under those rules the banks would have to refund the customer the money themselves (ie not get the moey back from the payee).