In many cases their involvement only makes matters worse and adds to an increasing debt burden on people struggling to make ends meet.
The action to help credit unions by the city council is welcome as it doesn't only complain about the practices but offers practical help for a viable solution.
High Street banks are not the answer as the people using pay- day lenders are not likely to be offered credit from a bank as they are seen as high risk for low return.
Credit unions are a longer term solution, getting people into the habit of saving, even if only small amounts, which can then allow them to borrow when they need it.
Cutting the rent for credit unions can allow them a more visible presence and free up their assets to give the best possible deal to the members.
Payday lenders are a sign of our times and the worst in the industry represent those unscrupulous opportunists who are looking to profit from others misfortune.
Any action which can promote the alternatives to legal loan sharks should be applauded, encouraged and supported.