Sociology Department Staff
Publication details for Professor Sarah BanksBanks, S. (2013). Payday lenders are out of time in their fight against credit cap. The Conversation
- Publication type: Newspaper/Magazine Article
- Further publication details on publisher web site
- Durham Research Online (DRO) - may include full text
Author(s) from Durham
Pressure is mounting on high cost credit companies to face tighter controls when they hand out short-term loans. Debt advice agencies, consumer organisations, anti-poverty campaigners and a cross-party group of MPs have all joined calls for the Financial Conduct Authority to regulate the market when it starts work in April 2014.
A charter has now been published on the subject and the Labour Party has raised the political stakes by promising to introduce a cap on the cost of credit if it wins the next election.