The “payday” loans industry has shifted through the fringe of consumer finance in Australia towards the conventional despite current regulatory setbacks and an image that is challenged.
The countryвЂ™s short-term financing market is considered to be well worth around $800 million per year. But developments offshore mean there may be more motion in the sector ahead. “One especially interesting development considering that the legislative change is the emergence of a dual market.”
The us government set new guidelines for Australian pay day loans in 2013, forcing modifications to current operations when you look at the sector.