Payday loan lender endorses MP’s push to put a cap on the cost of borrowing
"There are lenders who are not responsible and who charge their customers extraordinary amounts to borrow a smallish amount of cash. Certainly, the idea of some kind of cap in theory always sounds sensible and we endorse that"In a statement issued today, industry expert Gary Miller-Cheevers (and CEO of payday loan company speedeloans.com ) has backed Labour MP Stella Creasy’s call to put a cap on the cost of borrowing. In a desperate economy, it is reported that Ms. Creasy wants to stop the “legal loan sharks” by putting a cap on interest rates charged on