Many reports evaluate the consequences of payday advances on individuals when you look at the big lending that is payday in america, as we discuss when you look at the introduction.

This naturally raises the relevant question of as to what degree we may read-across outcomes from our analysis towards the U.S. market. Whilst the important options that come with payday advances are particularly similar in the uk and usa, we note two differences that are key might restrict the applicability of y our leads to the U.S. market.

First, the U.K. marketplace is dominated by online financing, that has been significantly more profitable in contrast to storefront financing ( Financial Conduct Authority 2014). When you look at the amount of our analysis, online loan providers could access borrower bank records electronically. Continue reading →