'Vulnerable stereotype' challenged

AOL Money Staff
Coins on notes
Coins on notes

Payday lenders have pressed MPs not to bracket all their customers as being "vulnerable" amid a clampdown on the sector.

The Consumer Finance Association (CFA), which represents short-term lenders, presented a report on their customers to a gathering of MPs at a closed briefing in Parliament, which argued they were generally "intelligent, financially savvy consumers".