THE MP for Islwyn, Chris Evans, has pledged his support for a new charter designed to regulate payday loans.
Mr Evans has added his name to the ‘Payday Loan Charter’ alongside charities and consumer organisations to call on the government to introduce greater regulation of the high-cost credit sector.
The charter prevents lenders offering rollover loans or hitting customers with hidden or excessive charges. Mr Evans led a backbench business debate in the House of Commons last month on the high- cost credit.
Mr Evans said: “I have lost count of the number of people who tell me they have become trapped in a cycle of debt after taking out a payday loan. That is why I was pleased to sign up to the charter calling on the government to introduce effective regulation of payday lenders.”
He added: “I hope that people across Islwyn will join me in signing up to the campaign.” For details, or to add your name to the charter, visit: www.change.org/paydayloancharter.
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