Payday loan rates powers

  • Text size
  • Send this article to a friend
  • Print this article

Payday loan rates powers

The Government will give a new regulator the power to cap the interest rates charged by payday lenders, Treasury minister Lord Sassoon said.

His announcement came after shadow business minister Lord Mitchell said some payday lenders were charging annual interest rates of 4000%.

Contextual targeting label: 
Business

Commenting & Moderation

We moderate all comments on Evening Times on either a pre-moderated or post-moderated basis. If you're a relatively new user then your comments will be reviewed before publication and if we know you well then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules, which are available here.

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.