Wykman: Loan brokers will not get away

The government does not back down, despite the Law Council's objections. Even loan brokers like Lendo must apply for a banking license to continue their operations.

» Published: February 25 2025

Wykman: Loan brokers will not get away
Photo: Jonas Ekströmer/TT

Share this article

We have made the assessment in our proposal that those who mediate credits also need to be covered, since their business is so closely linked to lending, says Minister for Financial Markets Niklas Wykman (M) to the news site Breakit.

Recently, the government presented sharp proposals that so-called quick loan companies must have a banking license. This is to clean up the jungle of companies that issue blank loans and to reduce indebtedness in society. The proposals apply to loan intermediaries, including Lendo and Compricer, among others.

However, they received a no from the Council on Legislation, since the loan intermediaries' business differs from that of the pure lenders.

But Niklas Wykman is not changing his mind.

The direction of our work remains firm. And it's fundamentally about not being able to borrow money that you can't pay back.

The Council on Legislation's comments will, however, be analyzed, according to Wykman.

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

China's Giant Solar Park in Qinghai: A Symbol of Green Transformation
3 MIN READ

China's Giant Solar Park in Qinghai: A Symbol of Green Transformation

South Korean Workers Detained in US Hyundai Raid to Be Flown Home
1 MIN READ

South Korean Workers Detained in US Hyundai Raid to Be Flown Home

Trump's Eight Strategies to Challenge Wind Power Expansion
4 MIN READ

Trump's Eight Strategies to Challenge Wind Power Expansion

Trump's Opposition to Wind Power Threatens US Turbine Industry
3 MIN READ

Trump's Opposition to Wind Power Threatens US Turbine Industry

Ryanair Cuts One Million Seats in Spain for Winter Season
1 MIN READ

Ryanair Cuts One Million Seats in Spain for Winter Season

Opec+ Plans Oil Production Increase in October
1 MIN READ

Opec+ Plans Oil Production Increase in October

US SEC Ends Swedbank Investigation Without Action
1 MIN READ

US SEC Ends Swedbank Investigation Without Action

Siemens Energy Secures Billion-Euro Deal for Bornholm Energy Island
1 MIN READ

Siemens Energy Secures Billion-Euro Deal for Bornholm Energy Island

88 Postal Operators Halt Package Shipments to USA
1 MIN READ

88 Postal Operators Halt Package Shipments to USA

EU Trade Commissioner Welcomes Potential US Tariff Reduction
1 MIN READ

EU Trade Commissioner Welcomes Potential US Tariff Reduction

Greece Offers Tax Incentives to Attract Returning Workforce
3 MIN READ

Greece Offers Tax Incentives to Attract Returning Workforce

How Greece Transformed Its Economy After Debt Crisis
2 MIN READ

How Greece Transformed Its Economy After Debt Crisis

Trump Considers Three Candidates to Succeed Fed Chief Powell
1 MIN READ

Trump Considers Three Candidates to Succeed Fed Chief Powell

South Korea Expresses Concern Over Mass Arrests at Hyundai Factory in Georgia
2 MIN READ

South Korea Expresses Concern Over Mass Arrests at Hyundai Factory in Georgia

Swedes Face Higher Costs Due to Norway's Fixed Electricity Prices
2 MIN READ

Swedes Face Higher Costs Due to Norway's Fixed Electricity Prices

Nvidia Stock Drops 2.7% Amid New York Market Decline
1 MIN READ

Nvidia Stock Drops 2.7% Amid New York Market Decline

Trump Criticizes EU's $33.9 Billion Fine on Google, Threatens Trade Probe
2 MIN READ

Trump Criticizes EU's $33.9 Billion Fine on Google, Threatens Trade Probe

US Job Market Slows with Only 22,000 New Jobs in August
2 MIN READ

US Job Market Slows with Only 22,000 New Jobs in August

Tesla Board Proposes New Bonus Plan for Elon Musk
1 MIN READ

Tesla Board Proposes New Bonus Plan for Elon Musk

13 Suspected of Insider Trading After Dawn Raid
1 MIN READ

13 Suspected of Insider Trading After Dawn Raid