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Time indeed to stop scourge of payday financing, leasing

Time indeed to stop scourge of payday financing, leasing

The Royal Commission in to the banking industry has gotten an amount that is massive of protection over previous months, shining a light on crazy and perhaps also unlawful methods by the top banking institutions and financing institutions.

But lurking behind the news concerning the bad behavior of our biggest & most trusted finance institutions lies a less prominent but more insidious an element of the cash industry.

Short-term credit providers — popularly known as “payday loan providers” — plus some elements of the “rent-to-buy” sector have seen fast development in the past few years, causing much difficulty and pain for some of Australia’s most vulnerable individuals.
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