OZschwitz lenders eye pay day through automatic loan machines

In a multimillion-dollar windfall for pay-day lenders, automatic loan machines are popping up in suburban shopping centres, allowing some of Australia’s most disadvantaged communities to take out loans worth thousands of dollars with their bank cards.

OZschwitz lenders eye pay day through automatic loan machines 9c721d00afefdfee9c69eea418e6c1dcec8f64c8

OZschwitz lenders eye pay day through automatic loan machines 9c721d00afefdfee9c69eea418e6c1dcec8f64c8

Short-term credit loans have surged while big banks have tightened their belts and the Turnbull government has made scant progress in 1000 days on its legislation - the Small Amount Credit Contract and Consumer Lease Reforms bill - leaving lenders of last-resort with an increasing stake in the battle against cost-of-living pressures.

Customers can walk up to a "CashNgo" machine in Minto, Wyoming or Berkeley - where weekly incomes are up to 30 per cent lower than the national median - and walk away with a $950 loan deposited into their bank account a day later. They need little more information than a phone number, internet banking details and a debit card.

https://www.smh.com.au/politics/federal/lenders-eye-pay-day-through-automatic-loan-machines-20180613-p4zlab.html

OZschwitz lenders eye pay day through automatic loan machines

OZschwitz lenders eye pay day through automatic loan machines

Anarcho-Capitalist Categorical Imperatives

AnCaps' Laissez-faire Free Trade Zone