Archive for the ‘high cost credit’ Topic
News: OFT action against Wonga
Published: 22 May 2012
Commenting on the Office of Fair Trading’s action against Wonga regarding its debt collection practices, Sarah Brooks, Director of Financial Services at Consumer Focus said: ‘Payday loan company marketing is very good at presenting the products as being easy, simple and transparent. This action by the OFT shows that beneath all the gloss, when things [...]
News: Consumer Focus response to measure to improve consumer credit
Published: 21 November 2011
Responding to the Department for Business, Innovation and Skills and HM Treasury measures to improve consumer credit , Mike O’Connor, Chief Executive of Consumer Focus, said, ‘The Government is giving the industry more time to get its act in order. Unfortunately the history of the credit market and financial services shows that self-regulation rarely works. [...]
Publication: Affordable credit: Lessons from overseas
Published: 3 September 2011
We all borrow money at some point and the British propensity to do so is striking in comparison to our European neighbours. We borrow about twice as much as people in France and Germany with only Cypriots ahead of us in the European Union (See table 5 of the report). This is not necessarily a [...]
