End Legal Loan Sharking: Cap the Total Cost of Credit

Responsible department: Her Majesty's Treasury

This petition condemns the Government for continuing to delay action on regulating the high-cost credit market and calls on them to introduce caps on the total cost of credit, so that British consumers get the same protection from payday lenders, home credit companies and hire purchase agreement providers as enjoyed by others across the world. Given the evidence of growing numbers of UK consumers getting into debt as a result of these forms of credit we call upon the UK Parliament to act on this matter before Christmas in order to defend British consumers from the legal loan shark industry.