If you rely on benefits, accessing a trustworthy financial system is hard. This is the case for both borrowing and for saving. While some question whether people on benefits are in a position to save at…
Soon to be a thing of the past?
κύριαsity via Flickr
The Financial Conduct Authority’s new controls on payday lenders are geared toward protecting borrowers from excessive charges, which is welcome news. From January of next year, the regulator will impose…
Eyes on the prize. Regulation will hamper, but not destroy the payday loan industry.
PhotoGraham
The announcement that payday lending industry will – finally – see a cap on the cost of credit is welcome news. But any belief that this one simple measure will eliminate the industry would be mis-guided…
Has Wonga gone out of its mind? Yesterday it effectively wrote off £220m owed to the payday lend by 330,000 borrowers who were more than 30 days in arrears in paying back their debt. It might seem like…
The latest survey on the basic understanding of financial terms like “loan”, “interest rate” and “budget” makes for shocking reading. The Money Advice Service surveyed 3,000 adults and found that 32% did…
British regulators have finally made some progress in efforts to keep a lid on the payday lending sector. A cap on costs will reduce the impact on those forced to borrow under the industry’s tough terms…
A wall of indebted students at the University of Portsmouth.
upsuportsmouth
“Life imitates art far more than art imitates life,” according to Oscar Wilde. No more so than in the contemporary issue of debt. It seems that while we may have been born free, many of us will die financially…
The age of austerity exposes the severe failings of British commitment to growth dependent on the financial sector, in particular the problems created by excess indebtedness. Of course, the coalition government…
An easy ride? Politicians love to bash payday lenders.
Andos_pics
October was a particularly good month for the spectacle of politicians, policymakers and their ancillary retinue of experts getting all hot and bothered about the buoyant payday loan industry. We saw the…
They’re tempting and easy but payday loans are certainly not cheap.
Scurzuzu
Pressure is mounting on high cost credit companies to face tighter controls when they hand out short-term loans. Debt advice agencies, consumer organisations, anti-poverty campaigners and a cross-party…
Goodbye Wonga, hello credit co-ops?
Catholic Church (England and Wales)
The Archbishop of Canterbury, Justin Welby, has become increasingly involved in debates about the UK financial sector. The embarrassing revelations that the Church has invested indirectly in payday lender…
Even on sale, payday loans are getting us into more financial trouble.
PA
Britain is currently experiencing its longest and deepest economic slump in a century. But through new research we’re only just beginning to realise quite how dramatic the impact of this recession has…
No escape from the all seeing eye.
Dominic Lipinski/PA
We know that as we browse the internet, we leave behind a trail. Search results reflect our browsing history; usernames and passwords are remembered on long-forgotten websites; and personalised adverts…