Denmark passes law against ‘greedy’ payday loans

The government along with its left wing parliamentary allies voted for the bill, as did opposition parties Liberal, the Danish People’s Party and Ny Borgelige and the unaligned Alternative party.

The newly-passed law aims to clamp down on payday loans which have left a significant number of younger Danes in debt, according to a press statement released on Thursday by the Ministry of Industry, Business and Financial Affairs.

Under the new law, limits will be set on the maximum annual cost of a consumer loan as…
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