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The Guardian - AU
The Guardian - AU
National
Ben Butler

Albanese government to crack down on payday lenders

Hand holding Australian 100 dollar bills
Assistant treasurer says Labor government wants to reform payday lending to protect vulnerable consumers. Photograph: Norasit Kaewsai/Getty Images/iStockphoto

The Albanese government will push ahead with a crackdown on payday lenders, with legislation to be considered by a Senate committee on Friday.

People who have been harmed by payday lending and consumer advocates are expected to give evidence to the Senate economics legislation committee, which will consider laws including a 10% cap on the proportion of household income that lenders could siphon off in repayments.

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