AM calls on church to lead the crusade against pay-day loan firms

Plaid Cymru AM Simon Thomas has written to the Archbishop of the Church in Wales, Barry Morgan asking him to lead a campaign against the activities of pay-day loan firms.

The call comes after the Archbishop of Canterbury Justin Welby; the head of the Church of England pledged to put payday lenders out of business. It was then revealed his church had invested in a payday loan company through a venture capital firm.

Mr Thomas has asked for assurances that the Church in Wales has not funded payday loan companies.

Simon Thomas, Mid and West AM for Plaid Cymru said: “I’m calling on the Church in Wales to take the lead against these pay-day loan firms. It was welcome to see the Church of England’s drive to build up credit unions so that fewer people with money problems turn to payday lenders.

“Plaid Cymru supports a cap on pay-day loan firms, as part of the Welsh Government we supported alternatives like credit unions. We don’t have the powers here in Wales so it is up to the Westminster Government to do more. They must ensure these ridiculous interest rates are capped and the people who are in need of help are not exploited, but treated fairly.

“I led a cross-party debate in the Senedd on this issue, and held a special surgery in Llanelli to offer advice on debt matters in association with Shelter Cymru. It is vital that people realise there are other alternatives like credit unions and Moneyline Cymru if they need to borrow money.”

You can find your local credit union on this link: http://www.walescooperative.org/what-is-a-credit-union

To contact Moneyline Cymru phone 0845 643 1553 or for advice Shelter Cymru on 0845 075 5005.