Local authorities should block access to payday loan…

Local authorities should block access to payday loan websites from council computers in a bid to protect vulnerable residents, according to a Willaston and Rope Ward Councillor. Brian Silvester is calling for access to payday loans. Yesterday, Citizens Advice issued a warning over payday lenders’ after finding three out of four people struggled to repay the loan. It is urging the OFT to immediately ban these lenders, saying they are causing real harm to borrowers. http://www.localgov.co.uk/index.cfm?method=news.detail&id=109944

#borrow-now-pay-later, #acefinance, #get-out-of-debt-without-borrowing, #oft

The OFT’s excuse for its ‘ineffective’ crackdown on…

The OFT’s excuse for its ‘ineffective’ crackdown on payday loans companies is pretty feeble. And what’s so alarming, is the speed at which industry grows up around the OFT’s tardiness. http://blogs.channel4.com/siobhan-kennedy/2013/05/31/oft-offers-feeble-excuses-mps-payday-loan-failures/

#borrow-now-pay-later, #finance, #get-out-of-debt-without-borrowing

The Office of Fair Trading admits it …

The Office of Fair Trading admits it “lacks regulatory powers” as it is slammed by MPs for failing to protect consumers from “predatory” lenders. http://www.channel4.com/news/payday-loan-regulator-lacks-power-to-tackle-predators

#borrow-now-pay-later, #alerts, #debts, #finance, #oft