Pay day loan organizations had been right straight straight back when you look at the shooting line a week ago over their sky-high fees, their targeting of susceptible people who cannot manage to make repayments on time, as well as permitting loans to move over whenever borrowers enter into difficulty.
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The bosses of three businesses (Wonga, QuickQuid and Mr Lender) encountered questions about their working methods from MPs from the Commons Business, Innovation and techniques choose Committee included in a crackdown regarding the lending sector that is short-term. Continue reading