Abstract
This chapter summarizes the book first by chapter and then, second, by theme. Payday lending is an important manifestation of financialization in Canada and so experiences with it offer important lessons for other products that crop up through this process. Evidence finds that payday loan borrowers tend to be from more modest economic backgrounds and some borrowers find their way into repeat borrowing. Repeat borrowing is an important source of efficiencies for payday lenders, and so this is a ‘rub’ (or conflict of interest) that state regulators need to address carefully. Regulation can be directed at payday lenders, other fringe banks, and, possibly more importantly, towards mainstream FIs to enable them to offer more competitive products.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsReference
Caskey, John P. 2010. Payday Lending: New Research and the Big Question. Working Papers, No. 10–32, Federal Reserve Bank of Philadelphia, Philadelphia.
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2018 The Author(s)
About this chapter
Cite this chapter
Buckland, J., Robinson, C., Spotton Visano, B. (2018). Conclusion. In: Buckland, J., Robinson, C., Spotton Visano, B. (eds) Payday Lending in Canada in a Global Context. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-71213-0_8
Download citation
DOI: https://doi.org/10.1007/978-3-319-71213-0_8
Published:
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-319-71212-3
Online ISBN: 978-3-319-71213-0
eBook Packages: Economics and FinanceEconomics and Finance (R0)