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Sheffield MP wins award for payday loan campaign

MP Paul Blomfield receive an award for his payday loan campaign

MP Paul Blomfield receive an award for his payday loan campaign

Sheffield Central MP Paul Blomfield has won a top award for his campaign to ‘stop the rip-off’ of payday loans.

He said it was a ‘huge honour’ to be named Parliamentarian of the Year by Citizens Advice.

Rt Rev John Gladwin, chairman of Citizens Advice, praised the MP for championing the need for better regulation of payday lenders to protect consumers.

Mr Blomfield said: “It’s a huge honour to receive this award.

“It’s a tribute to everyone who has campaigned to stop the payday loan rip-off and forced the Government to act.

“The new regulation of payday lenders is a big step in the right direction, but the campaign isn’t over.

“Everyone who is concerned about irresponsible lending must keep up the pressure to ensure we get the regulatory framework right.”

The award was shared with MP Robin Walker and a special award was was also given to the All Party Parliamentary Group on Debt and Personal Finance, of which Paul Blomfield is Secretary, for the group’s work campaigning on the issue of payday lending and debt management companies.

Gillian Guy, chief executive of Citizens Advice, said: “We hear daily of cases up and down the country of people being harassed, mistreated and exploited by unscrupulous payday lenders.

“Citizens Advice has campaigned long and hard for tough rules to force payday lenders to carry out proper affordability checks, offer free debt advice, limit the amount of times that lenders can automatically take cash from people’s bank accounts and place tougher controls on advertising.

“The work that this group of MPs has done to champion these issues in Parliament, has been invaluable in positively influencing and regulating this market and the Government’s plans to introduce a cap on the total cost of credit.

“We’ve worked closely with MPs from all parties to keep payday lending and debt management companies at the top of the agenda ahead of the Financial Conduct Authority’s recent regulation of the markets.”

 

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