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Payday lenders: Archbishop welcomes new rules

Archbishop Justin speaking about fixing the banking sector earlier this year. Photograph: Clare Kendall/Bible Society

Thursday 3rd October 2013

Archbishop Justin has welcomed new rules on payday lenders proposed by the Financial Conduct Authority

He said today: “I warmly welcome the new rules proposed by the Financial Conduct Authority and I commend the attention given by them to helping to protect those most at risk from the dangers of an uncontrolled slide into unmanageable debt. I especially welcome the proposed constraints on the Continuous Payment Authority, and will be watching with interest to see if these will be enough to protect the most vulnerable in our society.”   

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