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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.…
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…
Spotlight On: Derbyshire BS personal loan
15 January 2013 The deal Derbyshire Building Society is offering personal loans at 6 per cent. Good points The rate is among the lowest seen for years. It’s easy to…
Five Questions About: Rewards credit cards
15 January 2013 What are rewards credit cards? Credit cards which offer rewards for spending in the form of cash, points to save money in stores or even Air Miles…
‘I want to get on with my life without £9,000 debt’
15 January 2013 Jonathan Newman admits to being a big spender, but after amassing debt he is keen to work on changing his money habits. The 28-year-old, who works in…
Sudden card rate rise? Don’t just shrug, take action
15 January 2013 Picture the scene: you open up what you think is a routine letter from your credit card provider and find that the nice, low rate you have…
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