Government outlines measures to tackle high-cost credit lending
The Department for Business, Innovation and Skills (BIS) has outlined its plans to crack down on credit lending in a Consumer White Paper.
The paper, entitled 'A Better Deal for Consumers - Delivering Real Help Now and Change for the Future', sets out proposals for courts to ban rogue traders, along with plans for tackling consumer Internet scams and a consultation on reforming credit and store card regulations. It also contains plans for a review of pay day loans and doorstep credit, which can attract interest rates of 50% according to the BIS.
Read more at:
http://www.bis.gov.uk/government-action-to-secure-a-better-deal-for-consumers
