payday lending

ASIC’s review of the practices of 19 pay day and other short-term small amount lenders has found that while the majority are aware of and taking steps to comply with their responsible lending obligations, further improvements need to be made.

Read More ASIC seeks consistency in micro lenders’ responsible lending practices

With the Commonwealth Parliament’s joint committee on corporations and financial services due to report soon, Annette Sampson reports in the SMH on a Queensland court decision that exposes the problems in the payday lending industry.

Read More Stronger hand needed to stop debt traps – committee to report this week