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 […]

The Respublica think tank — founded by ‘Red Tory’ Phillip Blond — is to launch a report hailing the potential “social good” of the parasitic payday loan industry. That this bonkers notion is seeing the light of day may have something to do with the report being “kindly supported by” the Consumer Finance Association — the, […]