Is Vulture Lending good for Britain? Event
- Time:
- 18:00 - 19:00
- Date:
- 18 November 2011
- Venue:
- Building 46, Room 3001
For more information regarding this event, please telephone Joanne Hazell on 023 8059 4858 or email j.l.hazell@soton.ac.uk .
Event details
The University of Southampton Management School is to host a discussion on the practice and ethics of interest rates of more than 4,000 per cent that are charged by payday loan companies and some other commercial lenders.
https://www.southampton.ac.uk/management/news/events/latest.page
The University of Southampton Management School is to host a discussion on the practice and ethics of interest rates of more than 4,000 per cent that are charged by payday loan companies and some other commercial lenders.
Labour MP for Walthamstow Dr Stella Creasy and Professor Simon Wolfe from the Management School will give their views on Friday 18th November at 18.00.
Stella Creasy has long argued that British people do not need the high annualised 'vulture-like' interest rates of above 4,214 per cent that payday loan companies, online lending companies and similar concerns typically charge for their services. Her private member's bill proposes legislation to cap these rates to more modest levels.
Professor Simon Wolfe lectures at the University of Southampton on banking and finance. He will explain how commercial lenders determine the rates they charge their customers.