High Cost Credit Bill

Part of the debate – in the House of Commons at 10:16 am on 12 July 2013.

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Photo of Jacob Rees-Mogg Jacob Rees-Mogg Conservative, North East Somerset 10:16, 12 July 2013

I am very much enjoying my hon. Friend’s speech. It puzzles me that payday lenders seem to be exempt from the normal rules of “know your client” and money laundering. They prevent any investment house from receiving money, and it seems strange that companies can lend money without being obliged to follow them.