Early day motion tabled by primary sponsor Fiona O'Donnell (Labour), on Monday, 26 November 2012, in the House of Commons. It is signed by 36 members in total.

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CITIZENS ADVICE SCOTLAND AND PAYDAY LOANS

That this House welcomes the launch of the Citizens Advice Scotland campaign Payday Loans: your rights, their responsibilities which aims to ensure short-term, high cost credit, known as payday lending, is fair and responsible and people are informed about their rights when taking out a payday loan; notes that Citizens Advice Bureaux (CAB) have been very concerned about unacceptable marketing, lending and debt collection practices of payday lenders in their local communities; welcomes Citizens Advice Scotland's campaign, which will monitor local lenders' implementation and adherence to the new Good Practice charter for payday lenders, which includes providing clear information and credit vetting; remains concerned that research shows payday loans are increasingly used to pay for essentials such as rent and bills and not for emergencies or luxuries; encourages anyone who believes they have been unfairly treated by a lender, or who has problems with debt, to seek advice from their local CAB; and calls on the Government to introduce a cap on the total cost of credit charged by payday lenders.

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Secondary information

Type

Early day motion

Reference

776 

Session

2012-13

Other sponsors

Michael Connarty

Mark Lazarowicz

Lindsay Roy

Sheila Gilmore

Eilidh Whiteford

Subjects

Financial services

Link

View this Early day motion on www.parliament.uk