Dave Fishwick to take on payday loan companies
Self-made millionaire Dave Fishwick – who showed up the bankers and successfully fought the regulators to open his own small ethical bank in BAFTA nominated series Bank of Dave - will take on the payday loan companies for a brand new Channel 4 features programme.
Payday lenders have become an increasingly common sight on high streets and TV screens. They are often accused of taking advantage of Britain’s light touch regulatory regime to market high interest, easy access loans to people who can’t really afford them.
For this one hour special (title tbc), Dave will tackle some of the worst payday loan companies and examine a business model that is largely built around people who are not able to pay back high interest loans on time. The poorest and most vulnerable 20% of borrowers who rollover their loans month after month provide half of the profits of the payday industry.
In his own audacious and jovial style, Dave is determined to expose the worst lenders and help some of the victims out of their cycle of debt.
The programme was commissioned by Head of Features, Gill Wilson, and Commissioning Editor, Nick Hornby. Made by Finestripe Productions and executive produced by Ian Lilley and Katie Lander, it will air on Channel 4 later this year.
Nick Hornby said: “When Dave said he wanted to take on the payday loan industry we knew that he’d be taking us on a passionate personal journey into an important subject. But the story he’s uncovering sounds even more bonkers than the banks he took on in Bank of Dave”.
Dave Fishwick said: “I have seen first hand the misery that pay day loans can bring and in this programme I'm determined to do something about it."
Katie Lander, Joint Managing Director at Finestripe Productions, said: "After Dave's brilliant success at taking on banking, we are thrilled to be working with him again. Dave's a unique talent who we are proud to have brought to the screen."