Financial Exclusion and Consumer (Dis)empowerment

The rise in the payday lending industry is attributed to financial exclusion, which occurs when vulnerable consumers are excluded by mainstream financial services. Consequently, regulators have recently enacted laws restricting the payday lending industry. This paper investigates how regulatory rest...

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Bibliographic Details
Main Authors: El-Bialy, Rowan, El Hazzouri, Mohammed, Veresin, Ela, Main, Kelley
Format: Conference Proceeding
Language:English
Subjects:
Consumer behavior
Consumers
Financial services
Lending institutions
Online Access:Get full text
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Summary:The rise in the payday lending industry is attributed to financial exclusion, which occurs when vulnerable consumers are excluded by mainstream financial services. Consequently, regulators have recently enacted laws restricting the payday lending industry. This paper investigates how regulatory restrictions on payday lenders affect vulnerable consumers' lived experiences.
ISSN:0098-9258