“The new regulations are aimed at transparency and better administration of these financial products.”

“Description: Staff to do preliminary research and explore the feasibility of an ordinance to limit payday lending businesses.”

“The minute you know that you are struggling you should be seeking help.”

“The BBB says if we have not taken out a payday loans and we get a phone call, the easiest thing to do is just hang up.”

“One customer called in the police after falling victim to a scam in which the payday loan company demanded £100 up front before they would process his loan.”

“Three years of austerity by UK consumers has only made a small dent in the total levels of borrowing.”

“The convenience and innovation offered by payday lenders are attracting a broader and more prosperous selection of consumers, at the expense of traditional bank loans.”

“British payday lenders are encouraging an unbelievably stupid way to get buried in debt.”

‘Gary Miller-Cheevers, chief executive of speedeloans, said: “This may suggest that after a long, hard year of scrimping and saving, people were sticking their fingers up at the recession and decided they were going to celebrate Christmas properly.”

“If their access to credit is limited, if they need small-dollar, short-term loans now, there aren’t any other options for consumers,” said Scales from Express Check Advance’’