FULL COUNCIL - PAYDAY LOANS

At the Full Council meeting on Thursday 10th November, Cllr Clare Cleary put forward a motion for the council to write to the government and request a cap on the interest charged by 'legal loan sharks' which can be in excess of 7000% per year:

'This Council writes to the government to recommend immediate action to counteract the proliferation of legal loan sharking and introduce a cap on the amount of interest that can be charged on short-term and payday loans.'

The motion was passed and a letter will now be written from the council and signed by the Leader, Cllr Miles Parkinson.  It is hoped that this motion will spark a wider debate with other councils of a similar persuasion in order to prevent people from getting into further debt. 

The Twitter feed of the Full Council meeting can be found here:

Accrington Observer - Full Council 10th November 2011