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.
It appears that a representative from Wonga is speaking at a Labour Policy Review meeting on household debt. Whatever next? Advice from McDonald’s on healthy eating?
Less than half of Tory MPs want to impose a cap on pay day loan credit charges that are leaving consumers in crippling debt, a ComRes survey reveals today.
Tony Burke, assistant general secretary of Unite, delves a little deeper into millionaire Tory donor Adrian Beecroft’s lust to strip workers of their rights.
Packman looks at the findings that the boom before the bust was caused by growth in the consumer credit market, and asks what happens when it inevitably fails.
Pete Jefferys of the Co-op party explains why the scrapping of the social fund – is playing into the hands of the legal loan sharks like Wonga and Oakam.
Alex Hern covers the continuing deceit of Wonga over their targeting of students for their payday loans
Alex Hern reveals the outrageous attempt by Wonga to encourage students to take out payday loans.
Johann Lamont writes about the necessity of fighting the legal loan sharks who prey on the vulnerable poor.
Byron Orme takes the short term loan lenders to task for their ridiculous interest rates.
