Saturday, 13 November 2010

Consumer Credit (regulation and advice) bill

As I posted a few days ago, our MP Stella Creasy secured a parliamentary slot to present a so called ten minute rule bill: The Consumer Credit (regulation and advice) bill - which aims  to counter legal loan sharking (but without having the effect of driving people to resort to illegal loan sharks). This bill had its first reading on Tuesday and will go forward for a second reading later in the session. Stella also managed to get an adjournment debate   on the issue on Wednesday. 

As a result she was able to get the Government to acknowledge the widespread concern about the exploitative practices central to this sector and accordingly widened the scope of the department's review of credit and personal insolvency. You can read the debate here, download a form to submit evidence to the government's credit review here, and see more details of her work on this issue here.

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