This book analyzes the highly contentious payday lending industry, presenting valuable new data collected during Canada's recent regulatory reviews and demonstrating its relevance to payday lending conversations taking place worldwide.

1. Introduction.- 2. A Statistical Profile of Payday Loan Clients from National Surveys.- 3. A Socio-economic Examination of Payday Loan Clients: Why and How People Use Payday Loans.- 4. A Business Analysis of the Payday Loan Industry.- 5. Ethical Issues Related to Payday Lending.- 6. Mainstream Financial Institution Alternatives to the Payday Loan.- 7. Payday Lending Regulations.- 8. Conclusion.

This book analyzes the highly contentious payday lending industry, presenting valuable new data collected during Canada's recent regulatory reviews and demonstrating its relevance to payday lending conversations taking place worldwide. The authors treat the industry with a balanced hand by establishing its importance as an example of financialization and acknowledging the complex impact of payday lending services on low-income and credit-constrained clients. Up-to-date data from an interdisciplinary mix of financial, econometric, legal, behavioral economic, and socioeconomic sources—all in the context of an established Canadian industry—provide both proponents and opponents of payday lending with valuable evidence for their discussions of how much regulation is required to minimize harmful consequences. These insights from Canada expand a US-centric conversation and provide a key resource for the growing list of countries in which the industry is present, from the UK and Poland to South Africa and Australia.

Adds data, analysis, and lessons from Canada, the US, and the UK to a growing global conversation on high-cost credit Features perspectives from an interdisciplinary team of experts with almost 10 years of collaborative experience Provides a comprehensive and holistic analysis of the payday lending business, consumers, and regulators