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Payday loans: Why is usury permitted?

An article regarding Cash Converters expected to announce a major loss for the previous financial year.

https://www.msn.com/en-au/money/company-news/cash-converters-hammered-as-it-predicts-swing-into-the-red/ar-AAF0s9V?ocid=spartandhp

So sad, too bad.

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An article warning consumers that payday lenders Cigno and Gold-Silver Standard Finance have changed their name to MyFi.

Different name, same bottom-feeding grubs.

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A post was split to a new topic: The Illict Drug Trade

We’ve joined the Stop the Debt Trap Alliance with other consumer groups to call on the government to take action against dodgy payday lenders.

Plus, here’s some advice on why you should avoid payday loans:

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An article regarding consumer groups calling on the government to act on the bottom-feeding payday lenders.

You really have to laugh at George Christensen’s ludicrous statement.

“The Nationals MP George Christensen was one of those opposed to the crackdown, saying the industry played an important role for those who were “desperate” for financial help.”

I was not aware that marijuana had been legalised in Qld.

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I just received an email from the Consumer Action Law Centre regarding their campaign against payday lenders along with a request to send an email to our local Federal M P, which I have done.

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Another article regarding payday lenders.


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.Another article regarding the predatory practices of the disgusting, bottom-feeding lenders.

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The title does not reflect that this appears to be the equivalent of a payday loan to an employer, and those who profit want to push it out to the public service.

Reading the description beyond the commercial origins, the employer contracts the ‘supply-chain’ finance company to pay the payroll, and some time later the supply-chain finance company collects the money from the employer with interest. Seems like yet another service that creatively siphons a few more dollars from the economy and puts them into its pockets. Cheap credit? or allowing marginal enterprises to keep at it for a while longer?

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This one even perhaps worth a Shonky (offer in the pic ran from 27th to 29th of November 2019)? Highpoint Shopping Centre (part of The GPT Group property potfolio) helping their customers to buy more.

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The latest newsletter from the Consumer Action Law Centre.

https://mailchi.mp/consumeraction/fairness-must-drive-consumer-policy-in-2020?e=86eb265901

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