Daily Digit: UK payday loan cap

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Daily Digit: UK payday loan cap

Reuters Videos 1:24 mins

The UK government is to introduce a new law to cap the cost of payday loans. The move comes amid growing criticism of the interest rates charged by short-term lenders such as Wonga and Provident Financial which can be up to 4,000 percent per year. Hayley Platt looks at the changes.

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