We call on the UK Government to take immediate action against predatory lending practices by high-cost short-term credit providers, which can charge extortionate interest rates as high as 1,271% APR.

We urge the Government to introduce a lower cap on interest rates to prevent lenders from charging excessive APRs; ban the advertisement of high-cost loans and credit providers on mainstream media to protect vulnerable consumers and review the role of the FCA in regulating these lenders and ensure it is enforcing stronger consumer protections.