PAYDAY lending rules need to tighten to halt a growing financial epidemic, Hunter MP Joel Fitzgibbon says, with
The ease of taking out a pay day lender loan and a failure to take into account a persons ability to pay back the loan means financially vulnerable people are suffering, Mr Fitzgibbon said.
Those on very low incomes have little capacity to absorb financial shocks … one of the obvious options is a pay day loan.
A final report into the lending practice was released in March 2016. Mr Fitzgibbon said it was vital the government forged ahead with legislation.
The Minister has already said that the government supports the vast majority of the recommendations, in part or in full, so its time we saw some action to protect vulnerable Au…
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