MEP’s warning to payday lenders on Lowestoft visit
- Credit: Nick Butcher
East of England Member of the European Parliament Richard Howitt urged borrowers not to turn to payday lenders for short-term credit.
He is vice-chairman of a new group in the European Parliament which will press the EU to open up financial services for those on low or no regular income, and be an advocate for local credit unions. To mark his election to the European Parliament Credit Union Interest Group, he visited the Rainbow headquarters in London Road South, Lowestoft.
He said: 'I'm campaigning in Europe for financial inclusion for those with low or no regular income.
'Rainbow Saver Anglia Credit Union is a not-for-profit financial co-operative that provides a safe place to save money and borrow at competitive rates, with thousands of members across East Anglia.
'Community-based finance and money advice which often involves partnership with local churches, as with food banks, offers a better way, but access to these services can be limited.
You may also want to watch:
'I was delighted to be told today that Lloyds bank will be donating £20,000 to Rainbow Saver Anglia Credit Union and £100,000 to Eastern Savings and Loans Credit Union in recognition of the role they play opening up access to finance in the communities they serve.'
- 1 New outdoor theatre hopes to bring post lockdown performances to the woods
- 2 Rapid Covid test sites planned for Bury St Edmunds and Lowestoft
- 3 Minke whale to be removed from Lowestoft beach
- 4 Projects to restore axed rail routes get £794m boost
- 5 A life in agony: 27-year-old's daily torture battling constant pain
- 6 'Manipulative and scheming' man jailed for child sex offences
- 7 Tributes to much-loved Laura, 28, after Covid death
- 8 People 'losing patience' with neighbours who flout Covid rules, police say
- 9 Discount hobby shop The Works 'could run out of money'
- 10 'No black hole' - MP reveals two new vaccine centres in towns