Payday loan lender supports MP’s push to cap the cost of borrowing
In a statement issued today, Gary Miller-Cheevers, CEO of payday loan company www.speedeloans.com, has pledged his support for various calls from the government to put a cap on the cost of payday loans borrowing.MP Stella Creasy has been leading a high profile campaign to stop the “legal loan sharks” by pushing for a cap on interest rates charged on products such as payday loans. MEP Alyn Smith from the Scottish National Party (SNP) was reported last week* as saying: "Cameron and his cronies must get their act together and regulate these companies out of existence before more people face