Certainly, this portrayal that is dominant of financing led the FCA to tighten up legislation of HCSTC including brand new laws from April 2014 (see FCA, 2014a for complete details and Gardner, 2013 for discussion) because of the outcome that how many loans together with quantity lent from payday loan providers dropped by 35 % into the five months after the changes (FCA, 2014b). Numerous campaigners, but, argued for further regulation including a limit from the price of credit. The FCA consequently consulted with this and predicted in November 2014, that 7 % of present borrowers вЂ“ some 70,000 people вЂ“ may well not gain access to pay day loans following introduction of the proposed cost limit (FCA, 2014b). They further stated why these individuals could be best off without usage of payday lending. We presented proof from our research to your FCA in 2014, arguing that, for a few individuals, the proposed cost cap had been prone to have an even more harmful than good impact unless options had been destinationd into place (Rowlingson et al., 2014). It was for a amount of reasons. First, home-collected credit had been excluded through the limit, so some individuals might look for credit using this likewise high priced supply inspite of the not enough anonymity along with other features which our research revealed individuals respected.