THE head of the Church of Scotland has criticised so-called payday loans.
The Right Reverend Albert Bogle, Moderator of the General Assembly of the Church of Scotland, slammed short-term loans after discussing economics at a meeting with the new Archbishop of Canterbury, the Right Reverend Justin Welby.
Mr Bogle said: "Payday loan companies target the most economically vulnerable people in society.
"I am astounded payday loan companies are allowed to operate in the way they do and I am pleased the Archbishop joined me in criticising products charging up to 4000% interest."
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