Usury and soap operas: how lenders profit from least credit-worthy

Having berated the High Street banks, the OFT has now turned its attention to those lenders who deal with high-risk, low-income borrowers. Adrian Ash looks at whether their practices really are unfair.

If you had the misfortune to watch day-time TV in Britain today, you might be forgiven just as in the US, Australia or Canada for thinking there's stiff competition at work in consumer debt.

But not according to the UK government's Competition Commission there isn't. Intervention is needed, it says...so intervention is just what the market in lending to high-risk, low-income borrowers will get.

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