Mark Tami MP backs the Charter to Stop the Payday Loan Rip-Off

Payday Loan

Mark Tami MP has backed the Charter to Stop the Payday Loan Rip-off. The Charter calls for tougher regulation of payday lenders and is supported by some of Britain’s biggest debt, consumer and anti-poverty organisations – including Which?, Citizens Advice, StepChange Debt Charity, Church Action on Poverty, and the Centre for Responsible Credit.

Mark Tami MP said:

“I have signed the Charter because it is important that there is proper regulation and enforcement of payday lenders. At the time when the cost of living is rising payday lending is often trapping people into spiralling debt. Regulation of the industry needs to be addressed and the current proposals do not go far enough.”

MPs from all parties and campaigners are urging the Financial Conduct Authority to back the Charter and introduce tougher regulation of payday lenders to stop millions of people being ripped-off. Over 70 MPs and Peers have backed the Charter and members of the public can add their support at change.org/paydayloancharter

Mark Tami added:

“I’d encourage people to add their voice to the growing calls for tougher regulation of payday lenders by signing the Charter at change.org/paydayloancharter.”