Submitted on Monday 19th February 2018
Rejected on Tuesday 27th February 2018
Current status: Rejected
Rejection code: irrelevant (see below for details)
Enforce a maximum interest rate (20%) on loans to protect the vulnerable
Many people in desperate financial situations get themselves into greater trouble by taking out loans with annual interest rates of e.g. 1375% often making their situation worse leading to ill health & homelessness. Please help to stop this. Companies should not be allowed to prey on the vulnerable.
You can't sign this petition because it was rejected. But you can still comment on it here at Repetition.me!
The Government e-Petitions Team gave the following reason:
There is already a cap on high-cost, short-term credit (often known as payday loans). Deciding on the level of this cap is the responsibility of the Financial Conduct Authority, which is independent of the Government or Parliament.
You can find out more about this here:
www.the-fca.org.uk/firms/price-cap-high-cost-short-term-credit
3.16.135.226 Thu, 21 Nov 2024 12:21:53 +0000
