Texas Payday Loans

Abstract

Concern in regards to the use that is increasing of 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 a means of curbing ‘extortionate’ and ‘predatory’ lending, this paper presents a far more nuanced photo according to a theoretically-informed analysis regarding the development and nature of payday financing coupled with initial and rigorous qualitative interviews with clients. We argue that payday financing is continuing to grow because of three major and inter-related styles: growing earnings insecurity for folks in both and away from work; cuts in state welfare supply; and financialisation that is increasing.