Dave Fishwick, the self-made millionaire from Burnley, has become synonymous with community banking and activism against predatory lending through his ventures, most recently dramatized by Netflix.
The story of the 'Bank of Dave' begins with Fishwick's determination to create a financial lifeline for his community, particularly as high-interest payday loan companies thrived on the vulnerabilities of individuals facing financial hardships. His community bank, Burnley Savings and Loans Ltd, aimed to provide affordable loans and was established against the backdrop of the UK's financial crisis of 2008.
Documentaries chronicling Fishwick's initial struggles culminated in the 2023 Netflix hit, Bank of Dave, which starred Rory Kinnear as Fishwick. The film not only entertained but shed light on the realities of predatory lending, leading to substantial public discussion. Following the film's success, Netflix quickly greenlit a sequel, Bank of Dave 2: The Loan Ranger, which continues Fishwick's story against payday loan companies.
According to BBC reports, Wonga, one of the UK's most notorious payday lenders, was notorious for charging interest rates as high as 5,500%. This resulted in many individuals drowning under their debts, with the company exploiting vulnerable demographics for financial gain. “I think it’s worse now, which is quite scary,” said Fishwick, highlighting the increased struggles people face today.
For years, Fishwick has worked tirelessly to combat these injustices, stating, “So many people are struggling... then you know the country’s got problems.” Personal stories shared with him have intensified his resolve, particularly one involving parents asking for loans to buy baby formula. “When you have people needing a loan to feed a baby, then you know the country’s got problems,” he expressed.
With increasing numbers of financial institutions closing their doors, the rise of payday lenders has surged, amplifying concerns within communities. According to Fishwick, “54 bank branches are shutting every month” and more than 15,000 ATMs have vanished, making it easier for payday loan companies to fill the void left by traditional financial institutions.
The narrative of Fishwick's activism was bolstered by the creation of Bank of Dave and its sequel, following his campaign against Wonga and other lenders. While dramatizing these events, the films have taken creative liberties, presenting fictional characters alongside Fishwick’s real-life counterparts to engage audiences.
“It’s more than true-ish. You can get the ‘ish’ off; there’s a big lump of truth,” Fishwick shared, indicating the strong connection between real-life events and their cinematic portrayal. “We went after the payday loans, and we went knocking on the doors,” he continued, recounting his confrontational efforts against loan sharks.
The recent sequel, Bank of Dave 2: The Loan Ranger, adds new layers to Fishwick's legacy, allowing audiences to witness his passion firsthand. With new characters, including journalist Jessica played by Chrissy Metz, the narrative emphasizes the collaborative efforts to reform the payday loan industry. This film warns viewers about the dangers of unregulated lending and showcases the stark realities many face today.
Fishwick’s commitment extends beyond merely offering loans through his bank. Reports indicate he donates profits to local charities, helping both families and children as part of his broader vision for community support. “We lend to people who can’t borrow from high street banks and… we feed 350 children every morning,” he says, indicating the heart of his mission.
With increasing awareness around the prevalence of payday loan traps, both films have sparked public discourse surrounding the complex narrative of lending, personal responsibility, and the struggles faced by countless families. “You need something bigger than a documentary series to shine a light on the issue,” Fishwick stated, recognizing the platform Netflix has provided for these pressing matters.
He remains adamant about his fight and advocates for legislative changes. “I’ve been working with the head of the Illegal Money Lending Team to help stop thousands from getting debt,” Fishwick stated, reinforcing his drive for positive change.
With both Bank of Dave and its sequel now available on Netflix, viewers are encouraged to not only be entertained but also enlighten themselves about the pressing social issues embedded within the heart of Fishwick’s story. His legacy as the self-proclaimed “Robin Hood” of Burnley is entwined with each story shared through his endeavors, inviting others to engage with charitable community support.
The Bank of Dave initiative not only seeks to create change but also serves as a beacon of hope for individuals entangled within cycles of debt, emphasizing the enduring importance of fostering community resilience and financial education.