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Time indeed to stop scourge of payday lending, leasing

Time indeed to stop scourge of payday lending, leasing

The Royal Commission in to the banking industry has gotten a massive number of news protection over previous months, shining a light on crazy and perchance also criminal techniques because of the top banks and lending organizations.

But lurking behind the news headlines concerning the bad behavior of our largest and a lot of trusted finance institutions lies a less prominent but more insidious an element of the cash industry.

Short-term credit providers — popularly known as “payday lenders” — and some areas of the “rent-to-buy” sector have observed growth that is rapid the last few years, causing much difficulty and discomfort for some of Australia’s many vulnerable individuals.