South Northants MP demands loan shark crackdown

South Northamptonshire's MP has joined a cross-party coalition of MPs calling on the Government to crackdown on loan sharks.
Tory Andrea Leadsom is one of 15 MPs to sign a letter to minister for consumer affairs Ed Davey asking for further action against illegal money lenders.
Mrs Leadson said: "With high-cost lenders expanding aggressively and no adequate protection in place for vulnerable consumers, the case for action is becoming clearer every day. "There is a wide range of support for the introduction of a range of caps on the costs of credit, not only among MPs from all parties but also among consumer groups and debt advice agencies, and I’m pleased to be a part of this campaign.
"We need to act in order to ensure that consumers in South Northamptonshire and around the country are no longer locked in cycles of debt thanks to the unscrupulous practices of payday, home credit and hire purchase lenders."