archbishops plea on credit unions strike out against payday loans

[Amethyst]

Archbishop's plea on credit unions

The Archbishop of Canterbury has written to all clergy in the Church of England urging them to become "actively involved" in supporting credit unions. The Archbishop of Canterbury has written to all clergy in the Church of England urging them to become "actively involved" in supporting credit unions.
The Most Rev Justin Welby called on vicars to support "real" alternatives to payay loans which he said could plunge families into a crippling spiral of debt.
"Our faith in Christ calls us to love the poor and vulnerable with our actions. That is why the Church must be actively involved in supporting the development of real lending alternatives, such as credit unions," he said.
In a separate message issued to mark his debut on Instagram, the online photo and video sharing social networking service, the Archbishop called for churches and communities to support their local credit union.

http://money.uk.msn.com/news/archbis...-credit-unions

[Amethyst]

Re: archbishops plea on credit unions strike out against payday loans

milliband appears to have jumped on the bandwagon now and weirdly decided we should all benefit from taxes imposed on payday lenders

http://www.independent.co.uk/news/uk...s-8884944.html

kinds of gets rid of some incentive to shut the buggers down or reduce the amount of profit they make

quote - Payday lending companies would be hit by higher taxes under a Labour government, with the money raised used to build up their credit union rivals, party leader Ed Miliband will announce today.
Labour would raise about £20m a year from controversial lenders such as Wonga – either from a 1 per cent levy on their balance sheet or a 10 per cent profits tax.

[seduraed]

Re: archbishops plea on credit unions strike out against payday loans

so then the the usurers will put up their interest rates to those at the bottom and make matters worse .