Coalition accused of shelving plans for payday lending crackdown

Photo of Coalition accused of shelving plans for payday lending crackdown
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Legislation has failed to materialise – and Labor says conservative backbenchers are to blame

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The federal government has been accused of indefinitely shelving plans for a crackdown on dodgy payday lending operators after a significant lobbying effort from the industry.

The Coalition had promised to usher in strict new rules on payday lending last year, after a 2016 review found they were being inappropriately handed to low-income and vulnerable Australians. The high-interest, high-fee cash advances can trap people in cycles of debt.

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