Thursday, 25 July 2013

Cheering On The Church For Once

After years of wondering just what it was for, finally we find a use for the Church, to put the vile pay-day lenders out of business.
The Archbishop of Canterbury insisted he wants to "compete" companies like Wonga 'out of existence' by expand the reach of credit unions as an alternative.
Wonga said it welcomed any attempt to encourage responsible lending and that it had been instrumental in helping to raise industry standards and then increased the interest rate to 5,853%.
The Office of Fair Trading's (OFT) published a report which is the culmination of a large-scale probe into the £2 billion payday sector, stated they were causing wide spread "misery and hardship" for borrowers.
Shame it took someone who is not our government to tackle the serious problems of these pay-day lenders fleecing the public and leeching off the poor and vulnerable.
Good on you Archbish, this is one time when i don't mind the church wanting to get involved in society so i say good luck to it because the Government sure wasn't going to do anything about it.

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