.....'legal loan sharks' targeting hard-up families at Christmas

Ministers have refused to consider regulating payday lenders until next summer despite a rapid expansion of high-cost lending and firms targeting borrowers over the Christmas period. Critics said the government had chosen to 'kick the issue into the long grass' when the rapid growth of payday lending meant action was required now, particularly with Christmas around the corner when families will be more vulnerable than ever to high cost loans.Last week, Jo Swinson, the Lib Dem MP and Minister for Employment Relations and Consumer Affairs, told parliament that the Government would wait to see if payday lenders could improve their behaviour through voluntary codes of conduct that are being implemented by trade associations.....Read more here: Backlash-govt-delay-payday-loan-regulation-legal-loan-sharks-target-hard-families-Christmas