Friday 24 February 2017

Bid to tackle scourge of moneylenders makes a lot of sense

Charlie Weston

Charlie Weston

There is a rich irony in the fact that the moneylender sector is mushrooming in a country that probably has one of the most extensive networks of credit unions in the world
There is a rich irony in the fact that the moneylender sector is mushrooming in a country that probably has one of the most extensive networks of credit unions in the world

For too long, moneylenders have been given a free run.

This has allowed them to flourish. Back in 2013, research conducted for the Central Bank estimated that there were 360,000 customers of moneylenders.

That number has probably risen to 400,000 now.

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