• Jerry Buckland
  • Brenda Spotton Visano


This chapter begins by discussing some of the reasons that payday lending has attracted so much attention in that it is a convenient and expensive source of small loans primarily for people with limited budgets and credit options. The chapter includes a summary of each of the contributions to this edited volume. This chapter summarizes the extensive literature related to payday loans and lending, with an emphasis on the literature from the United States and Canada. The industry has grown over the last 20 years but its growth more recently has slowed. Its origin is in Anglo-American nations, but there is evidence that it has expanded beyond these borders, for example, South Africa and Poland. The literature has investigated if customers benefit from these loans, why do they use payday loans, and particularly important, why do some borrow repeatedly. More recently, behavioral studies have added another angle to understanding borrowers’ behavior. Finally, this chapter summarizes what the literature says about payday regulations.


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Copyright information

© The Author(s) 2018

Authors and Affiliations

  • Jerry Buckland
    • 1
  • Brenda Spotton Visano
    • 2
  1. 1.Menno Simons College, Canadian Mennonite UniversityAffiliated with the University of WinnipegWinnipegCanada
  2. 2.Department of Economics, School of Public Policy and AdministrationYork UniversityTorontoCanada

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