Proceeding contribution from Neil Parish (Conservative) in the House of Commons on Monday, 23 April 2012. It occurred during Debate on bill on Financial Services Bill.
Financial Services Bill
The hon. Lady is absolutely right. It needs to be clearly set out when people take out a loan that such sums could be the result if they are unable to repay it. Let us consider the analogy of tobacco. We no longer allow tobacco advertising, and shops cannot even display packets of cigarettes any more, yet people can ring up Wonga on their mobile phone and take out a loan for which they will be charged 4,214% interest.
Secondary information
- Type
- Proceeding contribution
- Reference
- 543 c720
- Session
- 2010-12
- Chamber / Committee
- House of Commons chamber
- Subjects
- Consumers Accountability Debts Banks Credit Advisory services Bank of England Fees and charges Financial services Financial institutions Interest rates Public appointments Mortgages Loans Office of Fair Trading Standards Regulation Repayments Trading standards Pre-payment Financial Policy Committee Financial Conduct Authority Prudential Regulation Authority Money Advice Service
- Legislation
- Financial Services Bill 2010-12 to 2012-13
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2023-12-15 16:51:48 +0000
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