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Monday, March 27, 2017

Consumer advocates call for crackdown on irresponsible payday lending

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Choice and other consumer advocates want stronger counselling services, no-interest loan schemes and better regulation

Consumer advocates have urged the government to stamp out irresponsible payday lending by strengthening financial counselling services, funding no-interest loan schemes and urgently acting on a promise to better regulate the sector.

An alliance of consumer advocates – including Choice, the Consumer Action Law Centre, Financial Rights Legal Centre and Financial Counselling Australia – will begin a lobbying effort in Canberra on Monday morning, attempting to pressure the government to act on the controversial payday loan sector.

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March 27, 2017 at 01:03AM

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from Christopher Knaus

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