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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

Tagged with

UK

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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