Petition Removing the right for Payday Loan Lenders to Act

A Payday loan is deceptive and Immoral to anyone who dares to look; these loans are targeting young, easily influenced adolescents and adults in the hour of need.
Proposal:
•Introduce a firm cost cap; if you cap the total cost of borrowing it would have a huge impact.
•Loans should NEVER be available instantly. When you can get £1500 in your bank within 15 minutes, the loan sells itself on convenience alone.
•Affordability and credit checks. Some do “credit checks” however these checks are done on the current state of the individual’s bank account, or their income.
•Ban all loan advertisement. Wonga spend a little of their current £65million profit, on making funny and light hearted TV adverts, broadcasting an idea that a short term loan is the answer to all your family, working or mechanical needs.

To summarise, by targeting Payday lenders it is plausible that you could turn around the humble current climate without having to cut school budgets & armed forces resources.