What should we do about payday lending? Lessons from Australia


Professor Karen Rowlingson and Jodi Gardner

“Payday lenders have become demonised over the last couple of years for preying on the poor, with loan APRs that can easily exceed 4,000 per cent. In response to this, the UK government announced in November 2013 that the Financial Conduct Authority (FCA) must introduce some limitation on the cost of credit by January 2015.”

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