Nationwide Building Society calls for action on legal loan sharks
Nationwide Building Society has given its support to a parliamentary vote to bring in curbs on high-cost credit such as payday loans and doorstep lending.
Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in C:\inetpub\wwwroot\2025.financialreporter.co.uk\htdocs\templates\front-end\partials\article_blockquote.php on line 2
Announcing its support, Graeme Hughes, Group Director, said:
"Nationwide is encouraging greater scrutiny into the high-cost lending practices of legal loan sharks to ensure transparency and the protection of consumers.
"These vulnerable consumers remain at risk from a lack of transparency and the irresponsible lending practices of legal loan sharks.
"Nationwide, as a responsible lender, recently provided £3 million to Citizens Advice to fund MoneyActive financial capability volunteers in local communities."
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
This week's biggest stories:
Budget
Budget: Government confirms details of 2.5% deposit first-time buyer scheme
State Pension
Budget: Government confirms state pension tax protection
FCA
FCA restricts six lenders over anti-money laundering concerns
FCA
Advice firm employees plead guilty after defrauding clients of £2m
Budget
Budget: Government reduces Lifetime ISA withdrawal charges ahead of new FTB ISA launch
Inflation
Inflation rises to 3.5% as mortgage rates outlook shifts
