Something is going wrong in this country if we cant stand up for our most vulnerable fellow Australians. Yet it seems many politicians are more interested in plotting and infighting than doing their jobs and standing up for justice.
Pay day loans are almost exclusively used by people on low or very low incomes.
Photo: afrphotos
On Friday I attended a roundtable with locals in Ringwood, together with community organisations and financial advisers who were concerned about the way some payday lenders are exploiting struggling people. What I heard shocked me. The payday-loan industry is raking in profits at the expense of the vulnerable.
Here are the facts. Payday loans are almost exclusively used by people on low or very low incomes. For such p…
Read the full article at: https://www.smh.com.au/business/consumer-affairs/payday-loans-our-hidden-debt-crisis-20180917-p50485.html