Payday lending companies look to be turning on each other under pressure from campaigners and regulators — with a major player quitting the industry body and slamming the remaining membership in a statement issued exclusively to Political Scrapbook. The logo of multinational pawnbroking franchise Cash Converters mysteriously disappeared from the Consumer Finance Association’s website in the last few days. When this website asked them […]

An economic adviser to financial regulators on payday loans had his favourable report on the potential “social good” of high cost credit funded by the payday loan industry, Political Scrapbook has confirmed. Having been dragged into an interest rate cap, the government left it to the Financial Conduct Authority to deal with the detail. Academic John Gathergood was commissioned to […]