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.
Tag Archives: payday lenders
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.
The Archbishop Justin Welby is back in the news today after it emerged that he met with Errol Damelin, the chief executive of payday lender Wonga.com, to tell him he wants to put the company out of business.
Labour-run Plymouth council has sought measures to stop payday lending companies such as Wonga and The Money Shop from advertising on its billboards and bus stops – a move that will sit alongside agreements reached with city commercial partners to block adverts on the council’s computer network, including in libraries.
Payday lending has historically been referred to as fringe banking in the United States, but you couldn’t deny it’s anything other than big business today.