Changes to protect consumers from credit sharks
Source: Western Australia. Minister for Consumer Protection. Media Release
"Western Australian consumers are to get greater protection from unscrupulous so-called ‘pay day lenders’. Consumer Protection Minister Sheila McHale moved to close a loophole that has allowed some short-term loan providers to exploit vulnerable consumers. “This legal loophole has allowed a number of unscrupulous lenders to prey on often desperate people,” Ms McHale said. This code ensures people receive adequate information about loans, protects them from unfair debt collection practices and offers redress when problems arise,” she said."