Alliance welcomes tougher rules for payday loan companies

Posted by
info@newrytimes.com
Monday, October 14th, 2013
Politics
Alliance Councillor Patrick Clarke has welcomed tougher rules for payday loan companies. The Financial Conduct Authority announced the new proposals including a ban on loans being extended more than twice; information about debt advice being given to customers who are extending a loan; and tighter regulation of advertisements. Councillor Clarke said, “These tougher rules will ensure that customers are treated more fairly by payday loan companies. “Stricter regulation of their advertisements is to be welcomed as it should help to reduce the misleading information often contained. However, many customers are still not aware of the full consequences of taking out these loans. Clarke added, “Payday loans are not the correct long term solution to the financial problems that many people are facing. I would encourage people with debt issues to seek help from organisations such as Citizens Advice Bureau.”

Would you like to advertise your business on Newry Times and reach thousands of people every day? Contact the Newry Times office on 028 4062 6520 or email Paul: editor@newrytimes.com

Both comments and pings are currently closed.

2 Comments for “Alliance welcomes tougher rules for payday loan companies”

  1. […] Advice, the Charter to Stop the Payday Loan Rip-off has been developed by Labour MP Paul Blomfield.Alliance welcomes tougher rules for payday loan companiesNewry Timesall 2 news […]

  2. […] Advice, the Charter to Stop the Payday Loan Rip-off has been developed by Labour MP Paul Blomfield.Alliance welcomes tougher rules for payday loan companiesNewry Timesall 2 news […]

Comments are closed

-->

This website does not share personal information with third parties nor do we store any information about your visit other than to analyze and optimize your content and reading experience through the use of cookies. You can turn off the use of cookies at anytime by changing your specific browser settings.

We are not responsible for republished content from this blog on other blogs or websites without our permission. This privacy policy is subject to change without notice and was last updated on 16/01/2017. If you have any questions feel free to contact Newry Times by emailing editor@newrytimes.com

Log in