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 actually 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 lending coupled with initial and rigorous qualitative interviews with clients. We argue that payday financing is continuing to grow as a consequence of three major and inter-related styles: growing earnings insecurity for folks in both and away from work; cuts in state welfare supply; and increasing financialisation. Continue reading →