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

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

If there was ever any doubt that a big regulatory stick needs to be taken to the pay-day lending industry, it was well and truly quelched by a recent landmark decision in the Queensland Civil and Administrative Tribunal.

Congratulations to Caxton Legal Service for running this important case.

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