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Major bank dumps payday lenders

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Julia Corderoy | 06 Aug 2015, 07:00 AM Agree 0
A major bank has confirmed it will no longer provide funding to the controversial payday lending sector
  • Westpac We did what !!! | 06 Aug 2015, 12:52 PM Agree 0
    Hi Guys
    Only because they got the Flashlight Shining on them..
    If Sixty Minutes and four corners left it alone they would be funding them No problems at all
  • George Hork | 06 Aug 2015, 06:04 PM Agree 0
    I learned early on that borrowers do not want to submit to any kind of financial education program. They just want their money. Payday loan borrowers are not "unbanked." Lacking a bank account, they do not qualify for a payday loan. Have any of you walked into a payday loan store, visited a lender's website or looked at a payday loan contract? Obviously not. This is the standard language in bold, "A single payday advance is typically for two to four weeks. However, borrowers often use these loans over a period of months, which can be expensive. Payday advances are not recommended for long-term financial solutions." There is much more...
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