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Oversight Committee

Part of Financial Services Bill (Money) (No. 2) – in the House of Commons at 7:30 pm on 10th December 2012.

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Photo of Stella Creasy Stella Creasy Shadow Minister (Home Affairs) 7:30 pm, 10th December 2012

I encourage the Minister to broaden his comments to encompass all our concerns about high-cost credit companies. Having seen the wonderful damascene conversion to the need to tackle these companies, many of us want to ensure that we do not inadvertently miss out on not just those payday or short-term lenders, but doorstep lenders, logbook loans and hire purchase agreements. High-cost credit encapsulates all those issues, and I think it would be welcome to the regulator to know that the intention of Parliament is precisely to tackle the whole industry.