|Dave And The Gang Promise To Cap Interest Rates|
The level of the cap, which has not yet been announced, will be decided by the new regulator, the Financial Conduct Authority (FCA). The Treasury says there is "growing evidence" in support of the move, including the effects of a cap already in place in Australia. Ben Delicious is in London reporting about Dave and the gang promise to cap interest rates on payday loans that currently reach 6,000 percent easily. Incidentally, the Colombian and Mexican drug cartels have a profit margins of 1000 per cent, overshadowed by payday lenders, they could have made more money on licensed loan sharking and New Tories. Not to mention strangling consumer demand that drives the British economy, EU interest rates of payday lenders. Well hit me with a shovel! Dave and the gang promise to cap interest rates of payday lenders. City regulator, weeks after ministers omitted the measure from Government's new rules on the sector The move comes amid heavy criticism of payday lenders for targeting vulnerable customers and charging high interest rates. Taking out a payday loan could endanger people's chances of getting a mortgage. The regulator said that enforced price controls would be "a very intrusive proposition". George Osborne, finance minister, on Monday said capping charges was 'the next logical step' to take.
New law to cap payday loan interest (bbc)
Payday lenders to face interest rate cap from City regulator (telegraph)
UPDATE 1-UK to cap payday lenders' interest charges (xe)
Colombia, Conservative, Economy of the United Kingdom, European Union, Loan shark, Mexican Drug War, Payday loan Bookies On Sports Tournaments
|Bookies On Sports Tournaments|
Council chiefs are fighting to stop a flood of betting shops opening in their borough. If you surf in the web, you can find millions of bookies and sportsbooks offering the same product. Adam Lovejoy reports from outside Wembley Stadium: Imagine if twenty years ago a betting syndicate would have been allowed to sponsor a major sporting tournament. There’d be an uproar, a national scandal, with whole sports federations falling and heads rolling. Like the Colombian drug cartels sponsoring the NHS or the Irish mob monitoring the counterfeit cigarettes and booze market, on behalf of Revenue and Customs. And why not allow doping in sports. The chance to win $1 million on the Gai Waterhouse-trained Fiorente at the relatively juicy odds. Bookies calling the shots in sports tournaments. Now that's really weird. local street bookies that for decades have run their business with many phones at home, pencils, notebooks and are not using the Internet and the pay per head technological platform to move their operations. The Sunday People launches a campaign to crack down on casino machines, calling for new laws to stop punters getting hooked Addictive: Machines can cost punters a week's money in just minutes. A SAFE containing €575 was stolen from a betting shop in Paphos on Friday night, police said. The incident was reported to police by the betting shop's Latvian employee after she had already informed the shop's owner who is currently abroad. Much more, there are numerous men and women who have their own pay per head network.
Council wants better odds on halting flood of bookies (standard)
Pay per Head: The Perfect Service of Any Bookie (bettingarticles)
Bookies machines known as 'crack cocaine of gambling' target most deprived areas (mirror) Campaigners praise Highland Council block new gambling machines (dailyrecord)
Sheffield independent retailers' angry at bookies plan (thestar)
Bookmaker, Doping in sport, Drug cartel, Gambling, HM Revenue and Customs, Irish Mob, National Health Service, Wembley Stadium