Making payday loans safer: The Australian approach to regulating small and medium sized loans

Howell, Nicola (2017) Making payday loans safer: The Australian approach to regulating small and medium sized loans. In Fairweather, Karen, O'Shea, Paul, & Grantham, Ross (Eds.) Credit, Consumers and the Law: After the Global Storm. Routledge (Taylor & Francis Group), Abingdon, Oxon New York, NY Routledge.

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Abstract

In mid-2013, national price regulation for consumer credit came into effect in Australia, driven largely by concerns about payday loans and other small, short-term loans. As explained by the Australian Government at the time of laws passing, the reforms had been introduced ‘to reduce the financial harm caused by lenders who ruthlessly impose excessive fees and charges simply because vulnerable consumers cannot obtain alternative access to credit’. These changes have brought some finality to a long and heated debate about the need or otherwise for ‘bright-line’ price regulation and/or other forms of regulation to respond to concerns about payday loans...

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ID Code: 90644
Item Type: Book Chapter
Additional URLs:
Keywords: consumer credit, payday loans, small loans, price regulation, responsible lending, consumer protection
ISBN: 9781472452344
Subjects: Australian and New Zealand Standard Research Classification > LAW AND LEGAL STUDIES (180000) > LAW (180100) > Commercial and Contract Law (180105)
Divisions: Current > Research Centres > Commercial & Property Law Research Centre
Current > QUT Faculties and Divisions > Faculty of Law
Current > Schools > School of Law
Deposited On: 23 Nov 2015 03:01
Last Modified: 29 Nov 2016 02:54

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