FCA propose rent-to-own cap – Gill Furniss responds
Gill Furniss MP, Labour’s Shadow Consumer Minister, commenting on the FCA’s announcement that it will set a rent-to-own cap, said:
“Rent-to-own companies have ripped consumers off for too long, often leaving them with unmanageable debts. That’s why Labour’s community organisers in Doncaster have helped campaign to end rip-off lending by the rent-to-own firm BrightHouse.
“The cap that the FCA’s proposed would be an important victory for campaigns like that, but more must be done to protect consumers against these unscrupulous companies, which thrive on the most vulnerable in our society.
“We want to build a country where people with lower incomes don’t have to turn to exploitative rent-to-own companies. The next Labour Government will raise the minimum wage to £10 and protect workers’ rights. And we’ll set up new Regional Development Banks to provide fair and reliable finance to small and medium sized businesses across the country.”