STATUTORY LIMITS ON FEES AND INTEREST RATES ASSOCIATED WITH LOANS

Early day motion 173, tabled 21 November 2002 by Colin Challen (Labour). Signed by 25 members.

That this House believes that far too many of its honourable Members' constituents are being trapped in usurious personal loan agreements, which include exorbitantly high charges, such as acceptance fees, insurance charges and interest rates; and believe that such charges and rates should be controlled by statute allowing for such costs to be limited to regularly reviewed levels in proportion to the loan service.

Signatures by party: Labour 21, Labour/Co-operative 2, Liberal Democrat 2.