PAYDAY LOANS – AUSTRALIA

Payday lenders to face probe

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Original article by Michael Roddan
The Australian – Page: 21 : 18-Oct-18

The Senate will undertake an inquiry into payday lenders and short-term credit providers after the proposed probe was backed by the Greens and Centre Alliance. Payday lenders and so-called "buy now, pay later" credit providers were excluded from the financial services royal commission’s terms of reference. Shares in Afterpay Touch Group, Zip Co and Cash Converters fell sharply in response to news of the inquiry.

CORPORATES
AFTERPAY TOUCH GROUP LIMITED – ASX APT, ZIP CO LIMITED – ASX Z1P, CASH CONVERTERS INTERNATIONAL – ASX CCV, CREDIT CORP GROUP LIMITED – ASX CCP, AUSTRALIA. SENATE STANDING COMMITTEE ON ECONOMICS, AUSTRALIAN GREENS, CENTRE ALLIANCE, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, THORN GROUP LIMITED – ASX TGA, RADIO RENTALS, NIMBLE PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN LABOR PARTY

Call for tighter controls on payday lenders

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Original article by James Eyers
The Australian Financial Review – Page: 18 : 13-Oct-15

The Australian Centre for Financial Studies has proposed to set up a national database of payday loans. It also argues that payday lenders should be more discriminating in assessing borrowers and their capacity to service a loan. The market for payday loans was estimated to be worth between $A800 million and $1A billion in 2012.

CORPORATES
AUSTRALIAN CENTRE FOR FINANCIAL STUDIES, RMIT UNIVERSITY, MONEY3 CORPORATION LIMITED – ASX MNY, CASH CONVERTERS INTERNATIONAL – ASX CCV, ASX LIMITED – ASX ASX, CASH CONVERTERS INTERNATIONAL – ASX CCV, GOOD SHEPHERD MICROFINANCE, EQUIPSUPER PTY LTD, BANK OF QUEENSLAND LIMITED – ASX BOQ, FEDERAL COURT OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY