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His Royal Highness The Duke of Edinburgh, 10 June 1921 to 9 April 2021

Read about the arrangements following The Duke of Edinburgh’s death

Edwina Hart, Minister for Business, Enterprise, Technology and Science

First published:
12 March 2012
Last updated:





































I am writing to provide an update on recent events regarding Yes Loans Ltd, Cwmbran.

Following a longstanding investigation by the Office of Fair Trading (OFT) into unfair business practices at Yes Loans, the OFT announced on 8 March its decision to revoke the company’s consumer credit license.

Yes Loans is an unsecured credit broker, providing 'pay day loans', Personal Protection Insurance and managing claims activity.  The company employs some 520 staff at its Cwmbran offices.

The decision to revoke the license was taken in light of evidence that Yes Loans has failed to comply with the Consumer Credit Act 1974, associated regulations and with requirements previously imposed by the OFT.  It is possible for the company to appeal this decision and can continue trading throughout any appeals process.

We are working closely with the company as this issue develops and stand ready to provide support for its workforce should there be any adverse impact on jobs.