Agenda item

Members noted details of the work carried out by the Trading Standards Service in relation to Loan Sharks and the measures that were being implemented to tackle illegal money lending across the Borough.  The Trading Standards team were supported in their local ‘loan shark’ work by an agreed protocol with the Illegal Money Lending Team (IMLT), which was hosted by Birmingham City Council and funded by Central Government, to provide a specialist task force designed to tackle illegal money lending across regional boundaries.

Following discussions with key partner agencies it was agreed that events to raise awareness of loan sharks would be rolled out in the Britwell and Chalvey areas as both had high levels of deprivation; with many residents who were financially vulnerable being either unemployed, young single parents or families on low income. Initiatives included:

• Over 700 flyers were distributed  - via newsletters for taxi drivers, article to elderly members through Age Concern and flyers included in food bags given out by Slough Food Bank
• Free awareness training was provided by the IMLT.
• Credit Union gave advice and opened accounts at Land Mark Place. 27 new accounts opened with the Credit Union.
• Leaflets delivered to over 640 households.
• Press release in Slough observer and radio interview aired on local radio station.

Members noted that loan shark initiatives would continue to be delivered by the Trading Standards Team during 2014 as well as gathering intelligence on illegal activity.    

Resolved – That the report be noted.