There's A New Subprime Crisis, But It's Not What You Think

Authored by Robert Colvile via CapX.co,
- The struggles of Provident Financial have fuelled concerns about a new sub-prime crisis
- Buyers of Provident's car loans are up to their eyeballs in debt
- Regulation has discouraged big banks from offering affordable credit to the poor
A decade on from the financial crisis, the reports today about the sub-prime lender Provident Financial have given us a nasty case of déjà vu.