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Loans: Protection

Volume 464: debated on Tuesday 9 October 2007

To ask the Secretary of State for Business, Enterprise and Regulatory Reform if he will take steps to prevent the exploitation of vulnerable people by home credit companies. (154386)

The Competition Commission has been investigating the home credit sector and is now implementing remedies intended to make the market more competitive so that customers of home credit companies will get a better deal.

More generally, the Government have recently strengthened consumer credit legislation. A prime purpose of these reforms is to protect consumers from unfair treatment by lenders, whether in the home credit sector or by other credit providers.