Minister calling for action over payday loans

Huw Lewis is calling for more to be done to promote alternatives to high-interest loans Credit: Owen Humphreys/PA Wire/Press Association Images

Action needs to be taken against payday loan companies as welfare reforms begin to bite, according to Communities and Tackling Poverty minister Huw Lewis AM.

Mr Lewis has submitted evidence to a consultation being carried out by the Office of Fair Trading (OFT) who want to refer the payday loan market to the Competition Commission.

OFT research found "a concerning picture of the UK payday lending market" and Mr Lewis said he has "deep concern" about the impact on communities.

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Calls for action on payday loans

Tackling poverty minister Huw Lewis AM is called on UK regulators to take action against payday loan firms. He says welfare reforms are leading more people to be tempted by payday loans to make ends meet.