Lancashire TelegraphBurnley banker David Fishwick takes on payday loan firms (From Lancashire Telegraph)

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Burnley banker David Fishwick takes on payday loan firms

Lancashire Telegraph: David Fishwick of Bank of Dave fame David Fishwick of Bank of Dave fame

PAYDAY loan companies will face the wrath of banking revolutionary David Fishwick in a one-off prime-time TV show tonight.

The minibus retailer first hit screens with Bank of Dave, which followed his low-interest ‘bank’ Burnley Savings and Loans Limited.

Now he has teamed up with the same production team to tackle the ‘spiral of debt’ he claims is encouraged by payday lenders.

Mr Fishwick said the companies were ‘terrified’ of him when confronted about issues such as annual percentage rates (APR) on loans and rollover payments.

He said: “I had people coming to me from Burnley and across Lancashire saying: ‘I’m stuck in a spiral of debt, please help me’.

“I’ve spoken to some very important people in government about payday loans but there’s no point telling just them about the problem – they know it exists.

"I needed to find the solution. So I went to meet the people affected and lent out £25,000 in a pilot scheme. We gave them time to pay it back, with a sensible APR and tried to inject some trust into the system.”

The hour-long special - Dave: Loan Ranger – was filmed over six months and saw Mr Fishwick meet with several MPs and the Archbishop of Canterbury’s office.

But it was when he came face-to-face with the payday loan companies themselves that made for the most interesting scenes. Mr Fishwick said: “They told their employees not to talk to me, but I had a whistleblower.

“I was physically thrown out of one. It’s a very powerful, hard-hitting programme and it really makes a difference.

“I think we’re really influential in terms of getting changes in the law regarding capping APR.”

The show, by Finestripe Productions, will be aired on Channel 4 at 10pm.

Comments (16)

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5:37pm Mon 13 Jan 14

shirtbox2003 says...

the programme should be, all about dave.have you tried to invest in his tinpot bank. give it a try.its all publicity and no follow up action. another dreamer.ive tried to invest but the website says no further investmet at the moment,so what good is he.
the programme should be, all about dave.have you tried to invest in his tinpot bank. give it a try.its all publicity and no follow up action. another dreamer.ive tried to invest but the website says no further investmet at the moment,so what good is he. shirtbox2003
  • Score: -5

5:41pm Mon 13 Jan 14

Loving lances says...

I also wanted to invest quite a large sum but they turned me away.
So my money won't be helping loval folk in
Burnley. Behave, Dave.
I also wanted to invest quite a large sum but they turned me away. So my money won't be helping loval folk in Burnley. Behave, Dave. Loving lances
  • Score: -3

10:34pm Mon 13 Jan 14

zeustitch says...

Can you plz contact me Dave fishwick I need help from ex's leaving me in dedt plz _emails teresaironmonger@bti
nternet.com
Can you plz contact me Dave fishwick I need help from ex's leaving me in dedt plz _emails teresaironmonger@bti nternet.com zeustitch
  • Score: -7

11:56pm Mon 13 Jan 14

2 for 5p ridesagain says...

Oh come on now give us a chance, we're just trying to make a honest living.
Oh come on now give us a chance, we're just trying to make a honest living. 2 for 5p ridesagain
  • Score: -5

12:14pm Tue 14 Jan 14

juanbbien says...

I don't quite get this on last nights programme he travelled in his 4x4 from Burnley to Ipswich god knows how much that cost in petrol for a start, to **** a women who had got herself into considerable debt to hear her story and then motored back saying he would be in contact,it seems an expensive day out before any finance is even discussed.
I don't quite get this on last nights programme he travelled in his 4x4 from Burnley to Ipswich god knows how much that cost in petrol for a start, to **** a women who had got herself into considerable debt to hear her story and then motored back saying he would be in contact,it seems an expensive day out before any finance is even discussed. juanbbien
  • Score: -3

12:18pm Tue 14 Jan 14

juanbbien says...

juanbbien wrote:
I don't quite get this on last nights programme he travelled in his 4x4 from Burnley to Ipswich god knows how much that cost in petrol for a start, to **** a women who had got herself into considerable debt to hear her story and then motored back saying he would be in contact,it seems an expensive day out before any finance is even discussed.
I don't know why I've had a word blocked by stars I didn't say anything abusive
[quote][p][bold]juanbbien[/bold] wrote: I don't quite get this on last nights programme he travelled in his 4x4 from Burnley to Ipswich god knows how much that cost in petrol for a start, to **** a women who had got herself into considerable debt to hear her story and then motored back saying he would be in contact,it seems an expensive day out before any finance is even discussed.[/p][/quote]I don't know why I've had a word blocked by stars I didn't say anything abusive juanbbien
  • Score: 0

12:38pm Tue 14 Jan 14

Loving lances says...

These reality programmes have an army of researchers who look for the most dramatic stories.
The trip to Ipswich will have come from the budget and will have been for more than just Dave's fuel; there would be the production crew too.
Dave wouldn't lose out as Channel 4 get advertising revenue that us ultimately paid for by consumers.
These reality programmes have an army of researchers who look for the most dramatic stories. The trip to Ipswich will have come from the budget and will have been for more than just Dave's fuel; there would be the production crew too. Dave wouldn't lose out as Channel 4 get advertising revenue that us ultimately paid for by consumers. Loving lances
  • Score: 1

12:39pm Tue 14 Jan 14

Loving lances says...

2 for 5p ridesagain wrote:
Oh come on now give us a chance, we're just trying to make a honest living.
But they still wouldn't take my money. Lots of it.
[quote][p][bold]2 for 5p ridesagain[/bold] wrote: Oh come on now give us a chance, we're just trying to make a honest living.[/p][/quote]But they still wouldn't take my money. Lots of it. Loving lances
  • Score: -2

7:56pm Tue 14 Jan 14

junction10 says...

If you lot did your research before opening your mouths your comments might be taken seriously. Burnley Savings and Loans is a peer to peer "bank", meaning he can only take in what he is giving out to others. If applications for loans slow down, the amount he can take in slows down. He acts as a middle man so to speak. I think it's great what he's doing for people, but by all means you please carry on supporting the big banks and the disgusting payday loans companies.
If you lot did your research before opening your mouths your comments might be taken seriously. Burnley Savings and Loans is a peer to peer "bank", meaning he can only take in what he is giving out to others. If applications for loans slow down, the amount he can take in slows down. He acts as a middle man so to speak. I think it's great what he's doing for people, but by all means you please carry on supporting the big banks and the disgusting payday loans companies. junction10
  • Score: 5

8:00pm Tue 14 Jan 14

Loving lances says...

junction10 wrote:
If you lot did your research before opening your mouths your comments might be taken seriously. Burnley Savings and Loans is a peer to peer "bank", meaning he can only take in what he is giving out to others. If applications for loans slow down, the amount he can take in slows down. He acts as a middle man so to speak. I think it's great what he's doing for people, but by all means you please carry on supporting the big banks and the disgusting payday loans companies.
Well, fair enough. Thanks for your explanation. However, local credit unions were happy to take my money and they have no limits on their investments.
[quote][p][bold]junction10[/bold] wrote: If you lot did your research before opening your mouths your comments might be taken seriously. Burnley Savings and Loans is a peer to peer "bank", meaning he can only take in what he is giving out to others. If applications for loans slow down, the amount he can take in slows down. He acts as a middle man so to speak. I think it's great what he's doing for people, but by all means you please carry on supporting the big banks and the disgusting payday loans companies.[/p][/quote]Well, fair enough. Thanks for your explanation. However, local credit unions were happy to take my money and they have no limits on their investments. Loving lances
  • Score: 0

10:08pm Tue 14 Jan 14

her from here says...

junction10 wrote:
If you lot did your research before opening your mouths your comments might be taken seriously. Burnley Savings and Loans is a peer to peer "bank", meaning he can only take in what he is giving out to others. If applications for loans slow down, the amount he can take in slows down. He acts as a middle man so to speak. I think it's great what he's doing for people, but by all means you please carry on supporting the big banks and the disgusting payday loans companies.
Good luck to him at lest he's having a go
[quote][p][bold]junction10[/bold] wrote: If you lot did your research before opening your mouths your comments might be taken seriously. Burnley Savings and Loans is a peer to peer "bank", meaning he can only take in what he is giving out to others. If applications for loans slow down, the amount he can take in slows down. He acts as a middle man so to speak. I think it's great what he's doing for people, but by all means you please carry on supporting the big banks and the disgusting payday loans companies.[/p][/quote]Good luck to him at lest he's having a go her from here
  • Score: 1

10:14pm Tue 14 Jan 14

Loving lances says...

junction10 wrote:
If you lot did your research before opening your mouths your comments might be taken seriously. Burnley Savings and Loans is a peer to peer "bank", meaning he can only take in what he is giving out to others. If applications for loans slow down, the amount he can take in slows down. He acts as a middle man so to speak. I think it's great what he's doing for people, but by all means you please carry on supporting the big banks and the disgusting payday loans companies.
Are you saying that people in Burnley are not applying to
Dave for loans as much as before? Is this because the local economy
has picked up, or are they not spending any money or are they borrowing from other lenders. Dave had a good idea but I think
he could roll out the idea across the region if not the country. There are enough poor communities where it would work.
[quote][p][bold]junction10[/bold] wrote: If you lot did your research before opening your mouths your comments might be taken seriously. Burnley Savings and Loans is a peer to peer "bank", meaning he can only take in what he is giving out to others. If applications for loans slow down, the amount he can take in slows down. He acts as a middle man so to speak. I think it's great what he's doing for people, but by all means you please carry on supporting the big banks and the disgusting payday loans companies.[/p][/quote]Are you saying that people in Burnley are not applying to Dave for loans as much as before? Is this because the local economy has picked up, or are they not spending any money or are they borrowing from other lenders. Dave had a good idea but I think he could roll out the idea across the region if not the country. There are enough poor communities where it would work. Loving lances
  • Score: 1

5:58pm Wed 15 Jan 14

junction10 says...

Loving lances wrote:
junction10 wrote: If you lot did your research before opening your mouths your comments might be taken seriously. Burnley Savings and Loans is a peer to peer "bank", meaning he can only take in what he is giving out to others. If applications for loans slow down, the amount he can take in slows down. He acts as a middle man so to speak. I think it's great what he's doing for people, but by all means you please carry on supporting the big banks and the disgusting payday loans companies.
Are you saying that people in Burnley are not applying to Dave for loans as much as before? Is this because the local economy has picked up, or are they not spending any money or are they borrowing from other lenders. Dave had a good idea but I think he could roll out the idea across the region if not the country. There are enough poor communities where it would work.
I think there will still be quite a few local businesses and people applying for loans, but many more looking to get a cool 5% on their savings (just imagine how many people enquired after the first programme!). In the first two episodes last year he travelled the country spreading the word letting people know what he was doing, in the hope that more businessmen like himself would consider doing the same. Remember he's trying to make banking more personal like it used to be, so it would be inefficient for him to make BURNLEY Savings and Loans a nationwide venture. His trips to Ipswich and (Scotland?) this week I think were merely showing the affect payday loans and their extortionate interest rates can have, and offering the people involved a lifeline.
[quote][p][bold]Loving lances[/bold] wrote: [quote][p][bold]junction10[/bold] wrote: If you lot did your research before opening your mouths your comments might be taken seriously. Burnley Savings and Loans is a peer to peer "bank", meaning he can only take in what he is giving out to others. If applications for loans slow down, the amount he can take in slows down. He acts as a middle man so to speak. I think it's great what he's doing for people, but by all means you please carry on supporting the big banks and the disgusting payday loans companies.[/p][/quote]Are you saying that people in Burnley are not applying to Dave for loans as much as before? Is this because the local economy has picked up, or are they not spending any money or are they borrowing from other lenders. Dave had a good idea but I think he could roll out the idea across the region if not the country. There are enough poor communities where it would work.[/p][/quote]I think there will still be quite a few local businesses and people applying for loans, but many more looking to get a cool 5% on their savings (just imagine how many people enquired after the first programme!). In the first two episodes last year he travelled the country spreading the word letting people know what he was doing, in the hope that more businessmen like himself would consider doing the same. Remember he's trying to make banking more personal like it used to be, so it would be inefficient for him to make BURNLEY Savings and Loans a nationwide venture. His trips to Ipswich and (Scotland?) this week I think were merely showing the affect payday loans and their extortionate interest rates can have, and offering the people involved a lifeline. junction10
  • Score: 0

6:24pm Wed 15 Jan 14

Loving lances says...

OK, respect to him. The FSA were the real bogeymen. Let's see if Mr Miliband's plans for banks have any effect. Most of the bankers were as bonkers as the Rev Paul Flowers of the very ethical Co-op Bank.
OK, respect to him. The FSA were the real bogeymen. Let's see if Mr Miliband's plans for banks have any effect. Most of the bankers were as bonkers as the Rev Paul Flowers of the very ethical Co-op Bank. Loving lances
  • Score: 0

11:02am Thu 16 Jan 14

It's a spade! says...

Let's be clear! He isn't a banker, he doesn't have a banking licence. this is because the capital adequacy of his organisation isn't sufficent to be granted one. He has asked and been refused.

What he is doing does happen up and down the country but it is the sort of thing that has many potential risks and downsides. It would be almost impossible to run such an organisation on a national scale.

Big organisations have to streamline processes and de-risk by taking an approach that will often use the lowest common denominator as the controlling factor. They also need to make money otherwise they become a charity and not a commercial enterprise.

Still it all makes good headlines for an attention seeking self publicist

The majority of people in debt have no one else to blame but themselves, usually as a result of greed or stupidity. Try this philosophy save up for it, and if you don't have the money then you can't have it. Don't borrow from other people what you can't afford to repay. Send back the mobile, get rid of the Sky, pack in smoking/electronic substitutes and don't book the all inclusive for the Dominican. It's amazing how much better off you'll be.

Lets face it "banker Dave" is a used van salesman and you know what they used to say about used car salesmen.
Let's be clear! He isn't a banker, he doesn't have a banking licence. this is because the capital adequacy of his organisation isn't sufficent to be granted one. He has asked and been refused. What he is doing does happen up and down the country but it is the sort of thing that has many potential risks and downsides. It would be almost impossible to run such an organisation on a national scale. Big organisations have to streamline processes and de-risk by taking an approach that will often use the lowest common denominator as the controlling factor. They also need to make money otherwise they become a charity and not a commercial enterprise. Still it all makes good headlines for an attention seeking self publicist The majority of people in debt have no one else to blame but themselves, usually as a result of greed or stupidity. Try this philosophy save up for it, and if you don't have the money then you can't have it. Don't borrow from other people what you can't afford to repay. Send back the mobile, get rid of the Sky, pack in smoking/electronic substitutes and don't book the all inclusive for the Dominican. It's amazing how much better off you'll be. Lets face it "banker Dave" is a used van salesman and you know what they used to say about used car salesmen. It's a spade!
  • Score: 1

11:16am Thu 16 Jan 14

Loving lances says...

Everything you say is very true.
Since Dave is not a banker I would note two important points:
1. Channel 4 called their show Bank of Dave which might be a misleading title and not Dave's fault.
2. However.... the sign outside Dave's shop says Bank On Dave.
Now, you can't blame folk for being confused. Perhaps he should change the sign.
Everything you say is very true. Since Dave is not a banker I would note two important points: 1. Channel 4 called their show Bank of Dave which might be a misleading title and not Dave's fault. 2. However.... the sign outside Dave's shop says Bank On Dave. Now, you can't blame folk for being confused. Perhaps he should change the sign. Loving lances
  • Score: 0

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