MP calls for pay-day action

East Lothian Labour MP Fiona O’Donnell has tabled a motion at Westminster backing a new Citizens Advice Scotland campaign for action over payday loans.

She said: “Pay-day lending is rapidly becoming a major problem in communities across Scotland.

“These companies are ­feeding off the cost of living and debt problems that so many people face.

“Those on low incomes often see these legal loan sharks as the only way of gaining access to short-term credit. But racking up additional debt and being unable to pay the ­eye-watering interest on their loans is resulting in misery for thousands of consumers.”