Rejected petition Anti loan sharking and loans with excessive interest rates

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To implement a set of laws that cover usury, the excessive interest charged on all loans,including payday loans, credit card interest. To cap all loans at a reasonable level recognising that there are huge numbers of victims of these extortionate interest rates. A part of the new usury law would protect all borrowers in default from victimisation and intimidation.

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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Date submitted 17 January 2013
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