Rejected petition Restrict Interest Rates on Pay-Day Loans

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An Interest Rate Restriction Should be Introduced for Pay-Day Loans.

The up-take on these loans is primarily from people who do not understand, when they first take out the loan, how the interest rates will affect them if they do not repay the loan in full at the end of the term agreed.

Some companies' loans incur Interest rates of over 4,000% APR; these rates are usurious and should be capped.

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.

You are more likely to get action on this issue if you sign and share a single petition.

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

Date submitted 11 March 2013
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