Payday loans

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Climate change driving demand for predatory loans, research shows
Study connects heatwaves and cold snaps to surges in payday lending, keeping people in debt and harming communities of color

Hilary Beaumont

15, Apr, 2024 @10:00 AM

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UK’s credit unions face uncertain future amid cost of living crisis
The small cooperatives have found themselves at a crossroads, with concerns over governance and consolidation threats

Kalyeena Makortoff Banking correspondent

04, Feb, 2024 @12:00 PM

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‘We had no money’: desperate UK public increasingly turning to pawnbrokers to make ends meet
Financial Conduct Authority says cost of living crisis has sparked a 25% rise in number of new loans over past year

Sarah Marsh

21, Oct, 2023 @3:00 PM

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Rightwing activist helps fund ‘predatory payday lenders’ in supreme court case
Watchdog group says entities backed by Leonard Leo have invested over $9m in ‘dark web’ of special interest groups

Martin Pengelly

02, Oct, 2023 @12:00 PM

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Millions of UK families using credit cards and loans to pay basic bills
Poverty charity the Joseph Rowntree Foundation warns of ‘debt timebomb’ as interest rate rises hit low-income households

Michael Savage and Skyler King

30, Jul, 2023 @8:00 AM

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‘It left me with nothing’: the debt trap of payday loans
Some payday loans have interest rates as high as 664% – but now Minnesota will cap them at 36%, in line with some other states

Michael Sainato

02, Jun, 2023 @10:00 AM

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‘Traumatising’: how rogue digital loan apps in Kenya intimidate borrowers
Kenyans unable to access bank loans are being harassed and ‘debt-shamed’ by unlicensed online lenders if they default

Caroline Kimeu

12, Oct, 2022 @6:00 AM

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Where will struggling households turn to after UK clampdown on payday lenders?
Market once dominated by Wonga has halved but some industry figures say there could be role for more tightly regulated sector

Kalyeena Makortoff Banking correspondent

30, Aug, 2022 @5:00 AM

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More UK households are turning to high-cost lenders, says charity
Warning comes as Amigo plans lending comeback offering loan with annual interest rate of 49.9%

Jess Clark

02, Jul, 2022 @6:00 AM

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UK banks must be more flexible to help struggling borrowers, says City watchdog
FCA calls for payment holidays and waiving interest charges for customers hit hardest by cost of living crisis

Kalyeena Makortoff Banking correspondent

16, Jun, 2022 @8:45 AM

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Google profiting from ‘predatory’ loan adverts promising instant cash
The ads, some offering loans delivered ‘faster than a pizza’, appear to deliberately target those in financial trouble

Shanti Das

13, Mar, 2022 @9:30 AM

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‘Their weapon is your shame’: toxic abuse from Nigeria’s loan sharks
Unemployment and inflation in Africa’s largest economy is driving the desperate to unscrupulous loan companies

Emmanuel Akinwotu in Lagos

09, Mar, 2022 @9:17 AM

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