We must ensure not to be caught unaware by the potential reach of the payday lending industry

The payday loan industry is set to change dramatically. For one, new regulation that will set a limit on how much a payday lender can charge per loan will soon be unveiled. But an industry very often wedded to predatory practices will find ways to circumvent regulatory strictures. In this article, Carl Packman highlights the extent to which payday lenders internationally have been able to subtly run rings around the oversight of responsible lending.