Weekly Independent

Payday Loans – Who Should Decide?

A brief response to an earlier entry regarding payday loans – critics argue that the government should step in to control lenders, but I have to say that when I apply for a financial service I want it to be the lender that makes the decisions, not the suits behind the scenes. If the authorities become too involved, who decides which applicants are eligible? Who decides the rates of interest etc? Who do we complain to in cases of complaint?Truth is, this is one area of the financial world that needs simplifying – not convoluting by big brother.

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