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  • #1

    Payday loans set for parliamentary vote

    Payday loans set for parliamentary vote

    This is a duplicate of the Blog Entry made on 23rd April 2012 17:39.

    Stella Creasy tables amendment to Financial Services bill calling for the new financial regulator to be able to set a maximum amount payday lenders...

    Click to Read More...
    .I'm the allaboutFORUMS News Feed. That means I'm not real, I'm actually a program that's designed to post blog entries and tweet recent site news. Please don't try and message me, I can't respond! Thanks.
    Tags: 2012, action, bill, borrowing, cfa, claims, consumer, customers, debt, fees, finance, financial, labour, lenders, lending, loan, loans, marketing, money, mps, online, payday, payday lenders, payday loan, payday loans, public, rise, rogue, sales, small, vote, yougov
  • #2
    Re: Payday loans set for parliamentary vote

    She is speaking to the House of Commons on this at this moment. See BBC Parliament.
    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

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    • #3
      Re: Payday loans set for parliamentary vote

      Originally posted by rizzle View Post
      She is speaking to the House of Commons on this at this moment. See BBC Parliament.
      thanks i've put it on. There's only about 10 MP's in there!!
      .

      Comment

      • #4
        Re: Payday loans set for parliamentary vote

        That is always the way with these things.
        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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        • #5
          Re: Payday loans set for parliamentary vote

          MP’s attack on payday lenders branded “misleading” by Ferratum UK

          An MP’s concerted campaign against payday lenders in the UK has been labelled “misleading” by Europe’s biggest online payday lender. During a debate in the House of Commons today on the Financial Services Bill, Labour MP Stella Creasy told MPs that the business strategy of payday loan companies “is geared towards repeat borrowing and the rolling over of loans”. The MP said a current storyline in the TV soap EastEnders in which character Bianca (played by actress Patsy Palmer) turns to a payday lender for help emphasised the need for action to be taken.

          Ian Porter, Sales and Marketing Manager of Ferratum UK, said: “Ferratum UK would agree with Stella Creasy that there is a need to clamp down on a small minority of rogue lenders operating in the payday lending market. “We have highlighted ourselves some of the more unscrupulous practices we have heard about including the taking of upfront fees before a loan is even processed and the aggressive selling of rollover loans. “However, Ms Creasy is also misleading her fellow MPs and members of the public by tarring the entire industry with the same brush.

          “More than 2million people in the UK have applied for a payday loan and this is expected to rise to 3.5million people by the middle of this year. This trend has not come about purely by chance. Rather, it is about professional, properly licensed companies such as Ferratum meeting the demands of the consumer who find Ferratum payday loans far more flexible and responsive to their needs than more traditional lenders....Read more here--: Payday loans set for parliamentary vote - allaboutFORUMS

          MPs attack on payday lenders branded a misleading by Ferratum UK
          I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

          If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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          • #6
            Re: Payday loans set for parliamentary vote

            About Bloody time.....It's not often I want to follow in the steps of parts of America but this is one of them

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            • #7
              Re: Payday loans set for parliamentary vote

              Payday loan bosses hit back at MPs

              Payday loan providers have claimed they have been unfairly branded as bad value for money by politicians. Payday lenders claimed today that they are being unfairly tarnished by politicians who have "misunderstood" the service they provide. Trade body the Consumer Finance Association (CFA) argued that while politicians tend to hold negative views towards payday lenders, most people who actually take out such loans believe they are getting good value for money. It made the claims as it published a study, carried out by YouGov, which questioned 300 customers of payday lender the Money Shop, as well as 300 politicians, including MPs, House of Lords peers and councillors.....Read more here: BLOG forums.all-about-
              I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

              If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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              • #8
                Re: Payday loans set for parliamentary vote

                Lies, damn lies and statistics

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