Payday lenders branded 'vultures'

Phil Noble/PA Archive/Press Association Images

Companies which charge massive interest rates for payday loans have been branded "vultures" by David Miliband.

The former Labour leadership candidate was speaking after hearing Labour MP and anti-loan shark campaigner Stella Creasy condemn football clubs Blackpool and Hearts and Ant & Dec's Red or Black for accepting sponsorship from loan firm Wonga.