I had a friend who worked for a UK payday lending company. The borrowing patterns of customers seemed hard to interpret as being in their long-term interests. C

I had a friend who worked for a UK payday lending company. The borrowing patterns of customers seemed hard to interpret as being in their long-term interests. Customer retention was too high and borrowing patterns too consistent for the loans to be primarily shielding customers from unexpected shocks rather than just punishing their lack of self-discipline.