Payday Loans Must Change Business Practises

The video discusses the challenges and regulatory actions surrounding payday loans in the UK. It highlights personal experiences with payday loans, the Office of Fair Trading's (OFT) actions against irresponsible lending practices, and the financial impact of these loans on consumers. The government proposes new restrictions on payday lenders, while the industry defends its practices. Personal stories illustrate the severe consequences of payday loans, emphasizing the need for better consumer protection.

What impact do payday loans have on vulnerable consumers according to the text?

What was Christopher's experience with payday loans as mentioned in the text?