Bishop of Durham attacks extortionate interest rates from pay day lenders

Bishop Justin Welby, who will be officially enthroned as the next Archbishop of Canterbury in March, has renewed his attack on the high interest rates charged by pay day lenders.

Speaking in the House of Lords in support of an amendment to try to put a cap on high interest rates, Bishop Justin said it was a moral case.

He added that it was clear that the present market in such loans was not working.