POLITICS

6 Shocking Things You Would Not Believe Payday Lenders Have Done

13/03/2014 17:12 GMT | Updated 13/03/2014 17:59 GMT
Dan Kitwood via Getty Images
LONDON, ENGLAND - NOVEMBER 01: A sign outside a 'Speedy Cash' cash loans shop on Brixton High Street on November 1, 2012 in London, England. The recession has changed the face of the UK's high streets, which have seen a boom in bookmakers, discount stores, charity shops, cheque cashing (payday loans) and pawnbrokers as cash-strapped Brits struggled with their finances. (Photo by Dan Kitwood/Getty Images)

Payday lenders have spread so far across Britain's high streets that there is now one lender for every seven banks and building societies.

The shocking finding came from the Bureau of Investigative Journalism’s research for the Guardian, which found that Glasgow is the payday loan capital of Britain.

The Financial Conduct Authority (FCA), which takes over as the payday loans' watchdog in April, said it would investigate how sympathetic the lenders are to those in debt following a swathe of complaints. The trade bodies have welcomed this as they argue that it'd drive out the "least reputable lenders".

Is this unfairly harsh on the payday industry? Judge for yourself as we have compiled the 6 worst things payday lenders have been accused of doing.

Things You Wouldn't Believe Payday Lenders Did