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The government is to investigate the impact of a variable interest rate cap for the high-cost credit industry. Edward Davey MP, parliamentary under-secretary of state at the Department of Business, Innovation and Skills (BIS), addressed parliament this week on the government’s response to the consumer credit aspects of the consumer credit and personal insolvency review. He said a cap on store or credit cards would not be in the best interest of consumers as pricing some consumers out of the market could force individuals to seek unregulated or high-cost credit....Read more here---> Payday loan price cap investigated
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