And to mark this most auspicious of days, Carl Packman writes in The New Stateman:

We know we have come a long way when Iain Duncan-Smith says, "for too long now predatory lenders have been plaguing the homes of vulnerable people."

But what does his government intend to do about it?

Not a lot so far.

He goes on to say:

Credit unions should enjoy continued investment, and in the last few years have received far more than £18m, so a lower rate home credit service could be feasible.

This is guaranteed to get people to join credit unions, and signposts a more creative approach to modernisation.

To read the full article, click here.

To find out, more about Carl's recent book on the subject, click here