Will Parliament soon decide to clamp down on payday loans? The controversial firms, offering ultra-high interest short-term loans, have proliferated on high streets and across the Web, utilising crafty advertising to make them appear far less dangerous than the 4,000 per cent APR would imply. Our Campaigner of the Year, Stella Creasy MP, has been fighting for legislation to regulate the firms, after witnessing the consequences of the 17 payday loan businesses in her consistency. Ahead of a crucial Commons vote on her proposals to regulate the firms, polling by ComRes has given her a boost, with strong support inside and out of Parliament for action on the matter.
MPs and public are for once united — 98 per cent of MPs stated support for measures to restrict payday loan companies, compared to 93 per cent of the public.
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