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  • #1

    Regulator to be allowed to 'cap' payday loan rates

    BBC News - Payday loan rates
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    Tags: 2012, bbc, cap, capped, checks, fashion, government, ico, illegal, interest, interest rates, lenders, lending, loan, loans, lords, mas, pay day, payday, payday loan, payday loans, rate, rates, regulator, restrictions, telegraph, tps, wrong
  • #2
    Re: Regulator to be allowed to 'cap' payday loan rates

    OK so I suppose we will have to wait and see what our lords and masters come up with, there is a lot of vested interest among the present government and the main players IMO so I don't hold up much hope.

    I would bet that any restrictions will be the minimum that they can get away with and give the lenders the maximum amount of wriggle room.

    Hope I am wrong

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    • #3
      Re: Regulator to be allowed to 'cap' payday loan rates

      Originally posted by gravytrain View Post
      OK so I suppose we will have to wait and see what our lords and masters come up with, there is a lot of vested interest among the present government and the main players IMO so I don't hold up much hope.

      I would bet that any restrictions will be the minimum that they can get away with and give the lenders the maximum amount of wriggle room.

      Hope I am wrong
      No you won't be wrong, they will be told to cap the rate at 3000% and do even less checks.




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      • #4
        Re: Regulator to be allowed to 'cap' payday loan rates

        One interesting thing i notice. I have never been a supporter of an un-elected second chamber but yet again the Lords have stepped up to the mark when our elected representatives have been to busy with their snouts in the trough and sat on their hands, makes you think.

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        • #5
          Re: Regulator to be allowed to 'cap' payday loan rates

          Payday loan interest rates to be 'capped' - Telegraph

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