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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’

By customer affairs reporter Amy Bainbridge

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The government has been advised to go swiftly and toughen laws and regulations since the payday lending industry and customer leases.

Tips:

  • Customer leases can easily see clients spend much more than things can be worth, and loans that are payday high rates of interest
  • Review made a number of tips for modifications to legislation, but customer teams are frustrated the national has yet to legislate modifications
  • The federal government has told the ABC the legislation may 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.