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

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

Abstract

Concern in regards to the increasing utilization of payday financing led the united kingdom’s Financial Conduct Authority to introduce landmark reforms in 2014/15. While these reforms have generally speaking been welcomed as an easy way of curbing ‘extortionate’ and ‘predatory’ lending, this paper presents a far more nuanced photo according to a theoretically-informed analysis associated with the development and nature of payday financing along with initial and rigorous qualitative interviews with clients. Continue reading “Payday financing within the UK: the regul(aris)ation of the evil that is necessary?”