PDL Challenges in AU
Published: Tue, 10/20/15
My email to day is about serious issues with PDL's in Australia.
So... not interested in the small dollar lending environment in the AU?
Delete this email now and enjoy your day. Jer@TrihouseConsulting.com
The Australian Government is reviewing two consumer credit markets that heavily impact on the lives of many low-income Australians - payday loans and consumer leases for household appliances and furniture.
Among other matters, the review, triggered by a requirement in the Credit Act is investigating whether the current regulatory regime strikes a “fair balance” between the need for these industries to remain viable and the need to protect consumers from exacerbating their risks of financial hardship.
It is a significant – and welcome - step in the right direction that the review’s Terms of Reference recognise the link between the payday loans (also known as Small Amount Credit Contracts) and household goods rental markets.
However, more is required to adequately understand how low-income Australians actually manage their money, the scope and scale of their credit market engagements, and why this is crucially important for regulators to consider.
A complex juggle of debt In our paper published this week...
TO READ MORE, Click this Awber Link to PDLIndustryBlog:
http://paydayloanindustryblog.com/payday-loans-australia/