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National urged to tackle lending that is payday customer lease ‘sharks’

National urged to tackle lending that is payday customer lease ‘sharks’

Tips:

  • Customer leases can easily see clients spend much more than products are worth, and loans that are payday high interest levels
  • A 2015 review made a number of strategies for changes to rules, but customer teams are frustrated the national government has yet to legislate modifications
  • The us government has told the ABC the legislation will undoubtedly be introduced and debated this present year

A coalition of customer teams, including Selection, customer Action Law Centre and Financial Counselling Australia, come in Canberra right now to lobby for urgent legislative modifications.

“Consumer leases and payday advances are usually directed at the absolute most vulnerable customers within our culture,” stated Tom Godfrey from Selection.

“that which we need in Australia are tough legislation that prevent these loan sharks focusing on those who truth be told can not manage to make these repayments.”

(više…)

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