An independent think tank has sent a warning that more Britons will fall victim to loan sharks, as the recession continues to bite and sub-prime lending is shrinking.
Mortgage lending alone has contracted by 60 percent compared to a year ago. And there is no clear sign of recovery in months to come.
Local authorities are urged to protect those financially vulnerable from using predatory lenders, by taking measures such as mapping unlicensed lending, increasing public awarness, and enchancing enforcement against illegal lending.
For the full story by Dongying Wang, published by Xinhua News Agency in May 2009, please click here. Also, please return to the blog to post your comment.
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