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Britain's Payday Lenders Face New Rules

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Britain's Payday Lenders Face New Rules
AIRED:
It's notorious for charging high interest rates, in some cases over 5,000 per cent. But Britain's payday loan industry is about to be subjected to tough new rules. It's a move welcomed by many, including Mike Dixon from the Citizens Advice Bureau. "At the moment people are having bank accounts emptied, they're having payday lenders take money that they didn't actually owe in the first place, payday lenders are lending to kids. This industry is out of control."moreless

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