Quick Loans To Be Restricted

The Swedish government wants to tighten the rules on so called text loans, where by sending a text on your mobile phone you can borrow money.

The schemes have proven particularly popular among young adults, but the often high rates of interest on the loans have meant that many cases have ended up at the Swedish Debt Enforcement Authority.

Among the proposals being looked at by the government include compulsory credit checks, companies being forced to declare exactly how much interest will have to be paid on the loans, and a one week cooling off period being implemented to give borrowers time to change their mind.

Grunden i vår journalistik är trovärdighet och opartiskhet. Sveriges Radio är oberoende i förhållande till politiska, religiösa, ekonomiska, offentliga och privata särintressen.
Du hittar dina sparade avsnitt i menyn under "Min lista".