Rejected petition Pay Day Loans- Legislate for maximum interest rate

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Legislation is needed to set a maximum interest rate which any lender can charge. This will help protect the interests of the most vulnerable and needier members of society.
There is a need for short term loans but at reasonable rates not extortion.

This petition was rejected

Why was this petition rejected?

There’s already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.

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We only reject petitions that don’t meet the petition standards.

Date submitted 14 November 2012
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