Reforms to Payday Lending. Individuals eager for a tiny loan to change a broken home appliance

Reforms to Payday Lending. Individuals eager for a tiny loan to change a broken home appliance

Individuals in need of a tiny loan to change a broken home appliance or tide them over until their next pay packet will do have more protection from improper financing techniques, following launch of draft legislation that improves the rules around payday loan providers.

The Assistant Treasurer and Minister for Financial solutions and Superannuation, Bill Shorten, asked stakeholders for comments on a series of reforms to protect borrowers who use payday lenders today. Continue reading “Reforms to Payday Lending. Individuals eager for a tiny loan to change a broken home appliance”