Taming the Fringe: The Regulation and Development of the British Payday Lending and Pawnbroking Markets since 1870

Taming the Fringe analyses the regulation and evolution of two credit products that were, and remain, vital to the working poor. Policymakers have struggled with pawnbroking and moneylending because they raise broader issues pertaining to poverty, capitalism and financial regulation. The values of easily accessible credit and financial independence compete with society’s desire to protect people from predatory loans. Policymakers have pondered whether regulation can lower costs without redu...