Customer Action has flagged concern in regards to the possible rollback of accountable financing requirements with regards to lending that is payday.
Currently there was a personal users’ Bill within the Senate proposing stricter financing requirements on touch credit contracts (SACCs, also called payday financing), and customer leases (also called rent-to-buy).
Such limitations would come with a optimum re payments limit for rent-to-buy schemes, and repayment that is equal re payment periods for SACCs, among other requirements.
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