Vulnerable consumer experiences of (dis)empowerment with consumer protection regulations

The payday lending industry has been characterized as predatory, which led to tougher government interventions. However, research on how stricter consumer protection regulations affect actual vulnerable consumers' lived experiences remains seriously underdeveloped. Following in-depth interviews with financially excluded and therefore loan consumers, this study finds that increased are perceived by consumers either empowering, disempowering, or simultaneously (dis)empowering. Accordingly, practical implications developed help public policy makers navigate ambivalent relationship regulations.