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MAXIMUM INTEREST RATE ON PAYDAY LOANS

Submitted on Monday 11th November 2013

Published on Tuesday 12th November 2013

Current status: Closed

Closed: Wednesday 12th November 2014

Signatures: 14

Petition Action

MAXIMUM INTEREST RATE ON PAYDAY LOANS

Additional Information

For too long these lenders have been able to charge whatever rates of interest they like.

C. 5000\% APR is not uncommon

The UK should follow the lead of many other countries and impose a maximum rate of interest on any loan of (say) 30%APR

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