The History and Development of High-Cost Credit and Payday Lending

Carl Packman

Chapter 1 in Payday Lending: Global Growth of the High-Cost Credit Market, 2014, pp 4-35 from Palgrave Macmillan

Abstract: Abstract Chapter 1 looks at the development of the formalized payday lending industry and its roots from salary lending to cash checking. Itgoes into detail about the part that positive perceptions of consumer credit had in the normalization of debt, before looking into the specific conditions that brought about high-cost credit more broadly.

Keywords: cash checking; consumerism; credit; debt; loan sharks; payday lending (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-36110-3_2

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DOI: 10.1057/9781137361103_2

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