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Making hay from pay day loans

Making hay from pay day loans

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 country’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.