Concerns raised as British moneylender asks Irish borrowers to pay 50% interest on loans

A cap on moneylender rates may be considered after concerns were raised about an authorised British firm asking borrowers here to pay back interest of almost 50% on loans.

Sinn Fein's Mary Lou McDonald said the rate charged by Amigo Loans was “state-sponsored robbery” especially for anxious families in the run-up to Christmas.