Posted by Hari on Friday, November 23, 2012 with 1 comment | Labels: credit crunch, inequality, jobs, pay, regulation, the government
...Chris, Fee and KJ aren't surprised to learn 'legal loan sharks' will again target hard-up families this Christmas...
Government stalls on payday loan regulation despite 'legal loan sharks' targeting hard-up families at Christmas
Ministers have postponed considering regulating payday lenders until next summer despite a rapid expansion of high-cost lending and firms targeting borrowers over the Christmas period. Research shows 5 million adults are considering taking a payday loan in the next six months - a 50% increase since this time last year. Payday lenders have told the government that the voluntary code is already working, and that stiffer regulation is unnecessary. DAILY MAIL
Ministers have postponed considering regulating payday lenders until next summer despite a rapid expansion of high-cost lending and firms targeting borrowers over the Christmas period. Research shows 5 million adults are considering taking a payday loan in the next six months - a 50% increase since this time last year. Payday lenders have told the government that the voluntary code is already working, and that stiffer regulation is unnecessary. DAILY MAIL
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post Poning the regulation will increase poverty in the UK and reducing Benifts will increase the amount of Debt and cause an increase in homlessness. IN addition it will ad pressure to local government as the seek to provide accomodation out of nothing for the increased amount of people that will want social housing. Therefore the long run the Government is set out on a course of Bankrupting the country in wealth and good will from its people.
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