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