Cowen has no plans for interest-rate ceiling on loans

Minister for Finance Brian Cowen has no plans to put a ceiling on the interest rates that lenders can charge borrowers.

28th October, 2006

Minister for Finance Brian Cowen has no plans to put a ceiling on the interest rates that lenders can charge borrowers.

This is contrary to the impression created by Minister for Social Welfare, Seamus Brennan, that the government was poised to ban high-interest loans.

A spokesman for Cowen said that credit agreements were covered by the Consumer Credit Act. He indicated that any changes in the Consumer Credit Act fell within the remit of the...

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