Payday Loans

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07 Dec 2012
With the economy as it is, struggling households are turning to payday loan companies to see them through these very hard times.

We know that these companies charge extortionate rates of interest, but at last there is some good news on the horizon. After nine long months, the Government finally backed down in the House of Lords and accepted an opposition amendment which will give more power to regulators to protect people from sky-high rates.

What is needed now is for the Financial Conduct Authority to act on these powers to stop exploitation of some of the poorest and most vulnerable in our society.