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.
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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."
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