Backbench Business — High-cost Credit

Part of the debate – in the House of Commons at 12:32 pm on 5th September 2013.

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Photo of Justin Tomlinson Justin Tomlinson Conservative, North Swindon 12:32 pm, 5th September 2013

I welcome much of what is being said, but I have a word of caution. An unauthorised overdraft in a mainstream bank is equivalent to 80,000% APR. We may not want to signpost people towards that.