4 Sep 2019

Clamp down on loan sharks good start for indebted families

From First Up, 5:51 am on 4 September 2019

A cap on the interest rates loan sharks can charge will make a difference for families struggling with debt - but it doesn't go far enough. That's from Christians Against Poverty - who say they're seeing that it's often the most vulnerable families who are forced into high-interest debt loans Yesterday, the government announced an interest rate cap of zero-point-eight per cent a day - or 292 per cent a year. CAP's Michael Ward says that will mean more money on the table for those turning to loan sharks.