The government needs to take the growth of payday lenders more seriously
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.
credit
The payday lending industry punishes people for its own faults
The payday lending industry punishes people for its own faults: they don’t carry out the correct credit checks then continue to charge borrowers excessive fees and interest on loans they probably couldn’t afford to begin with.
The wait for action on unscrupulous Payday lenders goes on
Payday lending is back in the news today as two reports are released, one after the other, on changes to the regulatory architecture that oversees the industry. Given how much optimism there was last year with the FCA being given new powers, the meat of these reports will come as a disappointment.
Small businesses can play a vital role – but only if they get the finance they need
Tony Dolphin lays out the plan for how to get small business involved in the future growth of the UK – and what they need to help
How bankers’ bonuses are contributing to the new credit crunch
Investors do not trust a banking sector grown drunk on bonuses – one of the reasons why we are facing a new credit crunch, writes Cormac Hollingsworth.
Memo to Vince Cable: lack of credit demand, not supply holds back UK economy
Memo to Vince Cable: lack of credit demand, not supply holds back UK economy: time for a cut in VAT and increase in quantitative easing
Need for affordable credit ‘big bang’ to aid low income communities
Kevin Gulliver, director of Birmingham-based research charity the Human City Institute and chair of the Centre for Community Research, on the need for affordable credit.
Rating agencies: The unaccountable oligopoly that can destroy economies
A discussion on the importance of the European Commision setting up an independent European credit rating agency
More evidence housing market has lost its momentum
Figures released today by the Bank of England suggest households’ demand for borrowing remained weak in September. Net lending secured on dwellings (i.e. mortgage borrowing) increased by only £0.1 billion in the month and was just 0.8 per cent higher than in September 2009.