Reports and Evidence

Several organisations have assessed the impact of debt and payday loans on the wellbeing of consumers. Below are a few of the reports published revealing the damaging impact of the industry:

Jumping the shark: Building institutions to spread access to affordable credit

This report sets out a comprehensive strategy for ending the ‘poverty premium’ faced by many consumers who have no alternative to borrowing from payday lenders.

Citizens Advice Bureau - Briefing for backbench business debate on payday loan companies

Citizens Advice Bureau - Citizens Advice Payday Loan Tracker Survey Results

Citizens Advice has long been concerned by the irresponsible practices of payday loan companies and has been calling for robust and effective regulation of the industry in order to better protect consumers. They provided this briefing for a backbench debate on 20th January.

Competition Commission - Research into the payday lending sector

This report includes findings from quantitative and qualitative research conducted as part of the Competition Commission’s payday lending market investigation. The research was conducted between September and December 2013.

Ofcom: Trends in Advertising Activity - Payday Loan

Ofcom, who are responsible for regulating the communications industry in the UK, have issued a report looking at the prevalence of payday loan advertising on TV and the increasing volume of payday loan adverts that young children are exposed to on a regular basis. 

Money Advice Service: Indebted Lives: The Complexities of Life in Debt

This Money Advice Service report examines the levels of indebtedness in the UK and looks to segment the major groups finding themselves over-indebted and then asks how debt advice can be targeted at these groups.

Financial Conduct Authority: Detailed Proposals for the FCA Regime for Consumer Credit

 The FCA will take over responsibiliy for the regulation of the consumer credit industry in 2014 and this will include responsibility for regulating payday lenders. The report outlines their proposals to change the rules that govern payday lending.  

Office of Fair Trading: Payday Lending Compliance Review Final Report

The OFT report states how it has made payday loans a top priority. It goes on to acknowledge how it intends to tackle the wide ranging issues in the consumer credit market.

Glasgow City Council - Payday Lending Sounding Board

Glasgow City Council set up a  sounding board to investigate the extent and impact of payday loans in the city. The report sets the findings, conclusions and recommendations of the Sounding Board, and proposes a range of actions for all levels of government.

Money Advice Trust: 3rd Quarter 2012 Report

The Money Advice Trust offers independent money advice. This report acknowledges the growth of debt related to Payday Loans  as reported to the National Debtline and the work toward best helping those facing debt.

Money Adivce Trust: 4th Quarter 2012 Report

This report builds on the work of the 3rd Quarter  report commenting on the growth of payday loans, and debt under £15,000 against a decrease of debt over the same amount. The report discusses the steps which are being taken in regards to payday lenders.

Financial Services Authority: Consultation on Consumer Credit 

The Financial Services Authority released a consultation paper to be released along side the Office of Fair Trading report. It highlights the high-level proposals of the FSA for the new regime which it views as being in the best interest of consumers.

Which?: Clean up Credit

The Which? research into the attitudes and experiences of consumers regarding high cost credit, and its recommendations for the Financial Conduct Authority as it takes over the regulation of consumer credit.


Citizens’ Advice Scotland: Payday Loans: Your Rights, Their Responsibilities

Citizens’ Advice Scotland’s study looks to draw attention to the causes behind the rapid growth of payday lenders, with a focus on those most at risk and the areas on which these loans are most commonly spent.


Consumer Focus: Keeping the Plates Spinning

This report looks to study the efforts of payday lenders to better prepare potential customers with a greater knowledge of the risks of this particular method of lending. It focuses particularly on those with lower incomes who are often the most commonly targeted.


Fife Gingerbread Alliance: Surviving Poverty - The Impact of Lone Parenthood

This this study is primarily aimed at the particular issues facing those in rural areas, it serves to provide greater insight into the effects on poverty for all. Though not primarily concerned with payday loans, the report observes the issues arising from their use and considers in depth the impact of debt.


Govan Law Centre: Payday Lending Briefing 

This report looks to address the issues over why the payday loan market has grown in Scotland, how people are using these loans  and the real cost that people are facing in the event that they turn to payday lenders. The report goes on to provide the recommended actions for Scotland from the Govan Law Cenre.


The Church of Scotland Special Commission on the Purposes of Economic Activity: A Right Relationship With Money

This is a report produced to identify what has gone wrong in the economy and to suggest ways in which things could be improved. The report was designed to take a closer interest into the role the Church could take to help improve matters.


HM Treasury - Credit Union Maximum Interest Rate Cap

This report from the treasury suggest that for Credit Unions to become sustainable they must be able to charge interest rates of up to 3%. The report goes on to show how the treasury came to this decision and the different options that they investigated in the process.


The Department of Work and Pensions - Credit Union Expansion Project: Feasibility Study Report

This report investigates the current role of credit unions and the best way to take credit unions forward sustainability and to provide security for those at greatest risk.


Scottish Widows - Savings and Investment Report

The report seeks to identify general changes in savings behaviour across Scotland from a study sample of over 5000, and has some worrying findings - including that 35% of Scots have savings of less than £1000.


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