Anti-poverty trust welcomes moves against loan sharks
Back now to limiting loan shark interest rates to 100 percent. An anti-poverty trust is welcoming Government moves against loan sharks and is reminding vulnerable people desperate to borrow money they do have cheaper options. A raft of changes were announced on Wednesday to try to prevent people falling into debt spirals at the mercy of high-cost lenders. Diana Crossan is a former Retirement Commissioner and is chair of Good Shepherd which provides people on low incomes with interest-free and low-interest loans. She tells Guyon Espiner she had recommended a cap of 50 percent of the borrowed amount.