Payday loans, a fast-growing industry has been accused of offering short-term loans with high-interest payments and targeting most vulnerable.
Some consumer watchdogs in Britain have accused the UK's fast growing payday loan industry of targeting the most vulnerable people.
The companies offer short term loans with high interest repayments.
A government committee has also recommended tightening laws surrounding the $265bn loan industry.
Well if they are actually offering short term loans with very high interest rates then this is very painful and very uncomfortable for the common people.It's a good step taken by the government to help the people.
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