§ Keith VazTo ask the Secretary of State for Trade and Industry what measures she plans to take to control predatory lending. [87014]
§ Miss Melanie JohnsonIn July last year I announced a review of the Consumer Credit Act 1974. As part of this review, I have consulted on proposals to extend the protection the Act provides by removing the financial limit and to make the terms for early settlement of loans fairer to consumers. I will be consulting in 2003 on proposals for improving the current licensing regime to ensure better regulation of lenders and increasing protection for consumers against extortionate credit.