Payday financing within the UK: the regul(aris)ation of the necessary evil?

Payday financing within the UK: the regul(aris)ation of the necessary evil?

Abstract

Concern concerning the increasing usage of payday financing led the united kingdom’s Financial Conduct Authority to introduce landmark reforms in 2014/15. While these reforms have actually generally speaking been welcomed as a means of curbing ‘extortionate’ and ‘predatory’ lending, this paper presents an even more nuanced photo predicated on a theoretically-informed analysis associated with the development and nature of payday financing coupled with initial and rigorous qualitative interviews with clients. Continue reading Payday financing within the UK: the regul(aris)ation of the necessary evil?