The campaign to tackle the payday lending sector has been gifted another small victory today as the Department for Business, Innovation, and Skills publishes a report calling for more focussed regulatory attention to the sector.
Tag Archives: payday lenders
In the UK 12 per cent of people do not have access to a bank account.
if the mountains of usurious cash being built by Wonga, The Money Shop and others seem too high for fairer lenders to scale – ask yourself: did you ever think the Tories would cap the cost of credit?
Previous attempts by Labour at capping the cost of payday loans have been defeated in the Commons by…the Tories; with the aid of their Lib Dems partners, of course.
Wonga are on a mission to pull the wool over our eyes on their very expensive credit product and the customers who they serve.
Ed Miliband will today propose payday lending companies be forced to pay a levy in order to support credit union alternatives and free debt advice.
Today’s announcement was a long time coming, but we are still left waiting for strong regulation over this controversial industry. How much longer can this go on?
Money Advice Service has shown that the proportion of people struggling to keep up with their bills and credit commitments has risen from 35 per cent in 2006 to 52 per cent in 2013.
UNISON, the UK’s largest trade union, has announced that it will be creating a network of credit unions to “help impoverished members deal with personal debt and financial difficulties”.
Carl Packman busts two myths about the recent remarks about Wonga by Archbishop Justin Welby.