New Product Rules Required To Limit The Damage Caused By Unaffordable Payday Loans (EDM279)

New Product Rules Required To Limit The Damage Caused By Unaffordable Payday Loans

EDM number 279 in 2013-14, proposed by Ann McKechin on 19/06/2013.
Categorised under the topics of Financial services and Loans.

That this House recognises the 12-week deadline for payday lenders submitting evidence to the Office of Fair Trading (OFT) addressing failings outlined in the compliance review of the sector has now passed; is concerned by the OFT?s finding that there is currently widespread irresponsible lending and lenders are failing to comply with the standards expected of them; notes the growing number of complaints to debt advice agencies and the Financial Ombudsman about problems with payday lenders; further notes that 36,413 people contacted StepChange Debt Charity for help with payday loan debt problems in 2012, twice as many as did in 2011; further notes that in the same period the average payday loan balance of a StepChange Debt Charity client rose from

This motion has been signed by a total of 50 MPs.

MP	Date	Constituency	Party	Type
Ann McKechin	19/06/2013	Glasgow North	Labour	Proposed
Mark Durkan	19/06/2013	Foyle	Social Democratic and Labour Party	Seconded
Andrew George	19/06/2013	St Ives	Liberal Democrat	Seconded
Mike Hancock	19/06/2013	Portsmouth South	Liberal Democrat	Seconded
Alan Meale	20/06/2013	Mansfield	Labour	Seconded
Jim Dobbin	20/06/2013	Heywood and Middleton	Labour	Seconded
Dennis Skinner	20/06/2013	Bolsover	Labour	Signed
Kelvin Hopkins	20/06/2013	Luton North	Labour	Signed
John McDonnell	20/06/2013	Hayes and Harlington	Labour	Signed
Jeremy Corbyn	20/06/2013	Islington North	Labour	Signed
Katy Clark	20/06/2013	North Ayrshire and Arran	Labour	Signed
David Simpson	24/06/2013	Upper Bann	DUP	Signed
George Galloway	24/06/2013	Bradford West	Respect	Signed
Jim Shannon	24/06/2013	Strangford	DUP	Signed
Margaret Ritchie	24/06/2013	South Down	Social Democratic and Labour Party	Signed
George Howarth	25/06/2013	Knowsley	Labour	Signed
John Leech	25/06/2013	Manchester, Withington	Liberal Democrat	Signed
Jim McGovern	25/06/2013	Dundee West	Labour	Signed
Naomi Long	26/06/2013	Belfast East	Alliance	Signed
Ronnie Campbell	26/06/2013	Blyth Valley	Labour	Signed
Martin Caton	26/06/2013	Gower	Labour	Signed
Graham Stringer	26/06/2013	Blackley and Broughton	Labour	Signed
Michael Weir	26/06/2013	Angus	Scottish National Party	Signed
Virendra Sharma	26/06/2013	Ealing, Southall	Labour	Signed
Steve Rotheram	26/06/2013	Liverpool, Walton	Labour	Signed
Jim Cunningham	27/06/2013	Coventry South	Labour	Signed
Ian Lavery	27/06/2013	Wansbeck	Labour	Signed
Frank Doran	27/06/2013	Aberdeen North	Labour	Signed
Hywel Williams	01/07/2013	Arfon	Plaid Cymru	Signed
John Hemming	01/07/2013	Birmingham, Yardley	Liberal Democrat	Signed
Lindsay Roy	01/07/2013	Glenrothes	Labour	Signed
Chris Ruane	02/07/2013	Vale of Clwyd	Labour	Signed
Mark Lazarowicz	02/07/2013	Edinburgh North and Leith	Labour	Signed
Michael Crockart	02/07/2013	Edinburgh West	Liberal Democrat	Signed
Peter Bottomley	03/07/2013	Worthing West	Conservative	Signed
Sammy Wilson	03/07/2013	East Antrim	DUP	Signed
Mary Glindon	04/07/2013	North Tyneside	Labour	Signed
Roger Godsiff	08/07/2013	Birmingham, Hall Green	Labour	Signed
Hazel Blears	10/07/2013	Salford and Eccles	Labour	Signed
Joan Walley	10/07/2013	Stoke-on-Trent North	Labour	Signed
David Blunkett	10/07/2013	Sheffield, Brightside and Hillsborough	Labour	Signed
Paul Blomfield	12/07/2013	Sheffield Central	Labour	Signed
Joan Ruddock	15/07/2013	Lewisham, Deptford	Labour	Signed
David Crausby	18/07/2013	Bolton North East	Labour	Signed
Caroline Lucas	02/09/2013	Brighton, Pavilion	Green	Signed
Anne Begg	02/09/2013	Aberdeen South	Labour	Signed
Alasdair McDonnell	11/09/2013	Belfast South	Social Democratic and Labour Party	Signed
Linda Riordan	08/10/2013	Halifax	Labour	Signed
Lady Hermon	16/10/2013	North Down	Independent	Signed
Ian Davidson	02/12/2013	Glasgow South West	Labour	Signed

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