christians back amendments to credit bill - news from ekklesia

By staff writers
January 12, 2005

Christians back amendments to credit bill

-12/01/05

MPís are to put forward significant changes to Consumer Credit Bill according to a campaign network which includes church agencies.

Debt on our Doorstep, which includes amongst its members Church Action on Poverty, the YMCA and the Student Christian Movement, say that several MPís will propose significant amendments to strengthen the bill when it is debated on thursday, to protect low-income families.

Catholic MP John Battle, Terry Rooney MP and others believe a clear message needs to be given to credit lenders that extortionate and exploitative lending will not be tolerated.

The Government is seeking to push through the new Consumer Credit Bill before the election.

Following a Government White Paper which preceeded the bill and made a number of proposals to change the regulatory regime for lending in the UK, the campaign network said that Government proposals did not go far enough to protect people on low incomes from extortionate and predatory lending.

Debt on our Doorstep is now calling on MP's to support 8 amendments that will strengthen the bill, including powers for a legal limit to interest rates to be introduced, a requirement for lenders to behave responsibly and removal of the loophole that allows doorstep lenders to ìcold callî.

Damon Gibbons, chair of Debt on our Doorstep said; ìFor the first time in 30 years MPs have the opportunity to extend protection from high cost credit to people on a low-income. There are major holes in this Bill through which people on a low-income will continue to be exploited by some lenders.

"Legal controls on credit charges are needed, even if these are reserved for a later date. No requirement is made for lenders to act responsibly, and lenders will be allowed to continue cold calling to seduce people into high cost credit. We urge MP's to speak for people on a low-income in support of these changes.î

Click here for a summary of the changes sought

Christians back amendments to credit bill

-12/01/05

MPís are to put forward significant changes to Consumer Credit Bill according to a campaign network which includes church agencies.

Debt on our Doorstep, which includes amongst its members Church Action on Poverty, the YMCA and the Student Christian Movement, say that several MPís will propose significant amendments to strengthen the bill when it is debated on thursday, to protect low-income families.

Catholic MP John Battle, Terry Rooney MP and others believe a clear message needs to be given to credit lenders that extortionate and exploitative lending will not be tolerated.

The Government is seeking to push through the new Consumer Credit Bill before the election.

Following a Government White Paper which preceeded the bill and made a number of proposals to change the regulatory regime for lending in the UK, the campaign network said that Government proposals did not go far enough to protect people on low incomes from extortionate and predatory lending.

Debt on our Doorstep is now calling on MP's to support 8 amendments that will strengthen the bill, including powers for a legal limit to interest rates to be introduced, a requirement for lenders to behave responsibly and removal of the loophole that allows doorstep lenders to ìcold callî.

Damon Gibbons, chair of Debt on our Doorstep said; ìFor the first time in 30 years MPs have the opportunity to extend protection from high cost credit to people on a low-income. There are major holes in this Bill through which people on a low-income will continue to be exploited by some lenders.

"Legal controls on credit charges are needed, even if these are reserved for a later date. No requirement is made for lenders to act responsibly, and lenders will be allowed to continue cold calling to seduce people into high cost credit. We urge MP's to speak for people on a low-income in support of these changes.î

Click here for a summary of the changes sought

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