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Simon Read: Pets and sweethearts are this week’s payday loan targets
15 January 2013 Payday lenders are all set to become more mainstream, if you believe the accountancy firm PricewaterhouseCoopers. The bean counters said in a report published this week that…
Wealthy Group Seeks to Reform Election Giving in New York
15 january 2013 ALBANY — An unusual and well-heeled coalition, trying to tap public anger over the flood of money into politics, is pushing to enact a public financing system…
You’re not alone: How to ease the pain of debt problems
15 January 2013 Just as the darkest hour is said to come before the dawn, this weekend is going to be a tough one for many people struggling with debt.…
Simon Read: Vulnerable need protection from unscrupulous lenders
15 January 2013 Payday lenders say their loans offer people convenience. The convenience of being able to get at emergency cash whenever they need it and wherever they need it.…
Council Speaker to Amend Campaign Finance Proposal
15 january 2013 Christine C. Quinn, the City Council speaker, said on Wednesday that she would amend a proposed change to campaign finance laws that spurred concerns about a flood…
OFT launches inquiry into payday loans
15 January 2013 The Office of Fair Trading has finally agreed to investigate the payday loans industry after a long-running campaign by The Independent and others. The OFT will probe…
MPs push for greater controls on payday loans
15 January 2013 MPs have demanded a new law to rein in companies offering high-cost, short-term payday loans to stop them exploiting vulnerable people. In a report published today, the…
Virgin raises credit card rates
15 January 2013 Virgin Money has raised interest rates on its credit cards by almost 50% in a further blow to borrowers faced by recent mortgage rate hikes. Rates on…
‘Rules need to cover shadow banking’
15 January 2013 Lord Turner, the chairman of City watchdog, the Financial Services Authority last night blamed the “shadow banking” sector as being a significant contributor to the financial crisis.…
Online lending ‘could replace’ banks
15 January 2013 A senior Bank of England policymaker has suggested that small online peer-to-peer lenders could one day replace high-street banks. Andy Haldane, the Bank’s executive director for financial…
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