Now the dust has settled, it is time to explain what happened. Last week I posted about Money Shop and Payday UK on Labourhome who have high street stores which target vulnerable “customers” with unsecured short term loans and charging up to 1330% APR.

I got some very useful comments. Labourhome commentator “Rwendland” pointed out that even in the land of the free; many US states limit the amount of interest that can be charged on loans. They are even called usury laws. Other countries also have such laws. In Canada they have a legal limit of 60%.

So there are precedences to ban this vile practice.