USURY. The dictionary definition is: lending of money at interest esp. at exorbitant rate.
We are in a period where money is hard to come by and many are struggling to keep their heads above water.
Either my eyes deceive me or there is a firm advertising on TV with short-term loans with an interest rate APR in excess of 2,000 per cent and no hidden charges.
Who needs hidden charges? Once the unfortunate client has defaulted, the sky is the limit.
With a Bank of England base interest rate of 0.5 per cent, how can the FSA condone such blatant ‘robbery’?
PETER J COLLINS, Hinksey Hill, Oxford
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