Payday Lending in Canada in a Global Context

1. Front Matter

   Pages i-xxi

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2. Introduction

   • Jerry Buckland, Brenda Spotton Visano

   Pages 1-40

3. A Statistical Profile of Payday Loan Clients from National Surveys

   • Wayne Simpson, Khan Islam

   Pages 41-64

4. A Socio-economic Examination of Payday Loan Clients: Why and How People Use Payday Loans

   • Jerry Buckland

   Pages 65-81

5. A Business Analysis of the Payday Loan Industry

   • Chris Robinson

   Pages 83-127

6. Ethical Issues Related to Payday Lending

   • Chris Robinson, Denys Robinson

   Pages 129-145

7. Mainstream Financial Institution Alternatives to the Payday Loans

   • Brenda Spotton Visano

   Pages 147-175

8. Payday Lending Regulations

   • Katrine Dilay, Byron Williams

   Pages 177-218

9. Conclusion

   • Jerry Buckland, Chris Robinson, Brenda Spotton Visano

   Pages 219-235

10. Back Matter

    Pages 237-245

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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 toSouth Africa and Australia.

• payday loan
• payday lending regulations
• consumer credit
• consumer debt cycle
• internet lending
• credit union
• behavioral economics

• Menno Simons College, Canadian Mennonite University Affiliated with the University of Winnipeg, Winnipeg, MB, Canada

  Jerry Buckland

• Faculty of Liberal Arts and Professional Studies School of Administrative Studies, York University, Toronto, ON, Canada

  Chris Robinson

• Faculty of Liberal Arts and Professional Studies Department of Economics School of Public Policy and Administration, York University, Toronto, ON, Canada

  Brenda Spotton Visano

Jerry Buckland is Professor of International Development Studies, Menno Simons College, Canadian Mennonite University, Canada. 


Chris Robinson is Professor of Finance, School of Administrative Studies, York University, Canada.


Brenda Spotton Visano is Professor of Economics and Public Policy, Department of Economics, The School of Public Policy & Administration, York University, Canada. 

Policies and ethics