Thursday June 4, 2020

Moneylender hopes to derail changes to loan law

12th May, 2019
Nick Beal

Amigo Loans, the moneylender charging nearly 50 per cent interest rates on its loans, is seeking to have changes withdrawn to legislation which would minimise such charges.

The British lender is fighting the move to cap interest rates on loans to people with poor credit histories who can’t access borrowing from banks or credit unions.

The Consumer Credit (Amendment) Bill, which is currently at committee stage, would put a 36 per cent APR limit...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

The way we did business a few months ago may never return – so the opportunity is to make changes that will both aid recovery and set us up well for our new futures

Tom Maguire | 1 month ago

What’s coming up today and what you might have missed

Hannah O’Brien | 5 months ago