LEGISLATION ON LENDING

That this House regrets that the Government has chosen not to introduce a Responsible Lending Bill that would assist people across the UK by putting a stop to exploitative lending practices by loan-sharks who lend at extortionate rates of interest, making extortionate lending a criminal offence, putting a cap on chargeable interest rates for doorstep lenders, providing better regulation of the mortgage market to prevent the return of the housing bubble, enabling mortgage applications to be dealt with fairly during times when the banks are less willing to lend, and preventing a seizing up of the market.