Payday financing when you look at the UK: the regul(aris)ation of a necessary evil?

Payday financing when you look at the UK: the regul(aris)ation of a necessary evil?

KAREN ROWLINGSON

Abstract

Concern in regards to the increasing usage of payday financing led great britain’s Financial Conduct Authority to introduce landmark reforms in 2014/15. This paper presents a more nuanced picture based on a theoretically-informed analysis of the growth and nature of payday lending combined with original and rigorous qualitative interviews with customers while these reforms have generally been welcomed as a way of curbing ‘extortionate’ and ‘predatory’ lending.

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