Cracking down on payday lenders will hurt the poor

Payday loans and pawnbrokers are a common feature of the nation’s high streets today, as they have been for centuries.  Recently however they have experienced something of a boom. Now they are also going online and increasingly advertising their products on TV. One company in particular – Wonga – has become something of a household name.  All of this has provoked calls for the sector to be regulated or even outlawed.

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Source: http://www.iea.org.uk/blog/cracking-down-on-payday-lenders-will-hurt-the-poor

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