Of course, he did! Dave Fishwick really took on payday loans, and fair play to him for doing so. I have been covering this saga from the beginning, and let me tell you, it has been a ride.

One of those payday loan companies got my mate Emily tied up a few years ago. Began with a mere fifty quid to see her through to payday. Six months later? She owed nearly a grand. It was at that point that I started to notice what Dave Fishwick was doing to these vultures.

The Moment Everything Changed

So did Dave Fishwick take out payday loans? The answer starts around 2014. Dave was chief executive of his community bank in Burnley when customers began arriving in something of a state. They had taken out small amounts, such as a couple of hundred quid here or there, and suddenly owed thousands.

Dave helped to shut Wonga down; it was the largest and nastiest payday loan company, charging 5,500% APR! Can you imagine? That’s not a loan; it’s a legal form of robbery.

It all began when Dave began to see patterns at his bank. People were not just skint; they were stuck. These payday lending loan sharks were swooping like vultures down on any and everybody who was desperate enough to need quick cash.

Taking on the Giants

When Channel 4 began filming Dave in action, they caught something amazing. Picture this bloke from Burnley, with no fancy financial degree, taking on companies making millions out of people’s misery. “I hate them,” Fishwick said. “I think they are taking advantage of the poor and the needy.”

And he wasn’t wrong, was he? I’ve seen what these corporations do. They focus on places that are already suffering, then they set up shop near job centres and advertise during daytime TV, when people are sitting at home worrying about their bills.

Dave’s approach was different. Rather than whinging about the problem, he did something. He began to offer real loans at reasonable interest rates through his bank. Showed people there was another way.

The Documentary That Changed Everything

Dave Fishwick’s campaign against payday lenders became the subject of the 2014 Channel 4 series “Dave Fishwick: Loan Ranger”. Won a BAFTA, it did. And rightly so.

The programme revealed precisely how these firms worked. They’d let you borrow money fully aware that you couldn’t repay on time. Then slap you with charges that would embarrass a shark. Dave found that payday loan companies were charging more than high interest rates, up to 5,000%.

My sister saw that documentary and claimed it changed her life. She had always considered payday loans to be expensive but harmless. The moment she witnessed the actual human cost, she changed her mind entirely.

The Real Impact

Did Dave Fishwick take on payday loans effectively? Look at the results. With help from politicians such as Labour’s Stella Creasy, Wonga was disbanded in 2020. The market’s biggest predator was removed.

But it was not only about one company going out of business. Dave’s campaign was instrumental in forcing through effective regulations. It was the Financial Conduct Authority which eventually promulgated rules that made any sense. Interest rate caps, affordability checks, and restrictions on how many times companies could roll over loans.

Before Dave got involved, these companies could basically do what they wanted. Charge what they wanted, target who they wanted. Now they can’t.

The Fight Continues

And I think even Dave, in his heart of hearts, knew the war wasn’t over. “That had a fantastic impact. But if you stop pushing, someone else will come in and take their spot.” Smart man, our Dave.

And that’s why Netflix produced Bank of Dave 2: The Loan Ranger in 2025. The movie follows Dave Fishwick as he wages war on the unscrupulous payday lenders, making a killing in his poverty-stricken English town. Because the problem hasn’t gone away, has it?

Different companies, same tactics. They simply became more sneaky.

What Really Happened

The Netflix films take liberties with the truth; that’s Hollywood for you. But the core story? Spot on. Dave actually fought these companies, and he actually won some big battles.

I remember the day it was on the news that Wonga finally went bust. David had finally, it felt like, actually slain Goliath. But then you realise there’s always another giant waiting in the wings.

The Personal Cost

What the movies don’t always reveal, however, is what this fight cost Dave personally. Teaming up against huge companies with armies of lawyers is no joke. When the profits of these lobbies are threatened, these are not nice people.

But Dave stuck with it. Dave Fishwick flies to the United States, accompanied by a journalist and a Citizens Advice counsellor, to confront payday loan firms. Even went across the pond to see how bad things were over there.

Why It Matters

So when people ask, “Did Dave Fishwick take on payday loans?” The answer is a massive yes. And thank God he did.

It’s because of his campaign that we no longer have companies charging 5,000% interest with no regulation. People would continue to be ensnared in debt spirals that ruined families.

My mate Emily? She’s sorted now. Debt-free for three years. She wishes Dave’s bank had been there for her when she was in trouble. It could have saved her some sleepless nights.

The Lasting Legacy

Dave’s fight proved something important. You don’t have to be a city banker or a government minister to drive change. Sometimes you just have to care enough and be stubborn enough to fight.

The payday loan business remains, but it’s a shadow of what it was. Their ability to charge thousands of percent is gone. Good controls so they can’t lend to people who clearly can’t afford it.

That’s Dave Fishwick’s legacy. He is a Burnley entrepreneur who took on an industry and won. It wasn’t a bad day’s work, was it?