What are the regulations around payday loans in Australia?
Can you provide details on the laws and regulations that govern payday loans in Australia?
Category: Banking & Finance
Location: Carolina
Location: Carolina
Answers
Payday loans in Australia are regulated by the National Consumer Credit Protection Act 2009, which caps fees and interest rates that lenders can charge.
11 months ago
Lenders are also required to assess the borrower's ability to repay the loan and provide clear, upfront information about the loan terms.
11 months ago
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