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Basic financial products
17/02/2010Such as bank accounts, loans, overdrafts and credit cards to improve their services to people on low-incomes, according to a campaign launched by a coalition of third sector organisations.
5 and 7 million people cannot access mainstream credit many borrow money from payday loan companies, some of which charge as much as 2,500% interest.
The campaign is calling to cap interest for those families who just can't afford them. Moreover to encourage financial institutions not to be incentives and a obligation to offer financial services to all who need them.