TY - JOUR

T1 - Just plain Wronga?

T2 - a multimodal critical analysis of online payday loan discourse

AU - Brookes, Gavin

AU - Harvey, Kevin

N1 - This is an Accepted Manuscript of an article published by Taylor & Francis in Critical Discourse Studies on 15/11/2016, available online: https://www.tandfonline.com/doi/abs/10.1080/17405904.2016.1250651

PY - 2017

Y1 - 2017

N2 - Payday loans constitute one of the most rapidly expanding and controversial forms of consumer lending today. Payday lending – the selling of high-interest, short-term credit – has thrived following the decline of the traditional high street banking system and the reluctance of many mainstream credit services, following the 2007/2008 Global Financial Crisis, to lend to low-income earners. This study examines the website of the industry leader in the UK, Wonga, a payday lender which recently rebranded and relaunched itself (in 2015) after being embroiled in a series of financial scandals. Our analysis centres on the new Wonga website, the gateway to its financial services, and identifies three inter-related discursive strategies through which the lender, in the wake of its financial misconduct, seeks to present itself as a reputable financial service provider, namely by (1) constructing the empowered and responsible borrower, (2) destigmatising both its service provision and its prospective customers, the payday borrower, and (3) minimising the consequences and risks associated with payday borrowing. Collectively, these strategies constitute an artful response by Wonga to the changing legislative and socioeconomic contexts in which it and other payday lenders now operate, permitting it to continue marketing and selling its high-interest rate financial services.

AB - Payday loans constitute one of the most rapidly expanding and controversial forms of consumer lending today. Payday lending – the selling of high-interest, short-term credit – has thrived following the decline of the traditional high street banking system and the reluctance of many mainstream credit services, following the 2007/2008 Global Financial Crisis, to lend to low-income earners. This study examines the website of the industry leader in the UK, Wonga, a payday lender which recently rebranded and relaunched itself (in 2015) after being embroiled in a series of financial scandals. Our analysis centres on the new Wonga website, the gateway to its financial services, and identifies three inter-related discursive strategies through which the lender, in the wake of its financial misconduct, seeks to present itself as a reputable financial service provider, namely by (1) constructing the empowered and responsible borrower, (2) destigmatising both its service provision and its prospective customers, the payday borrower, and (3) minimising the consequences and risks associated with payday borrowing. Collectively, these strategies constitute an artful response by Wonga to the changing legislative and socioeconomic contexts in which it and other payday lenders now operate, permitting it to continue marketing and selling its high-interest rate financial services.

KW - Payday lending/borrowing

KW - Wonga

KW - multimodality

KW - multimodal critical discourse analysis

KW - online advertising

KW - the fringe economy

U2 - 10.1080/17405904.2016.1250651

DO - 10.1080/17405904.2016.1250651

M3 - Journal article

VL - 14

SP - 167

EP - 187

JO - Critical Discourse Studies

JF - Critical Discourse Studies

SN - 1740-5904

IS - 2

ER -