This paper considers interest rate caps, what is known about their use and impact in other jurisdictions, and how might they contribute to a fairer consumer credit regime in New Zealand.
Credit and hardship: report of the Senate inquiry into credit and financial products targeted at Australians at risk of financial hardship
The intractable maths of low income earners' family budgets pushes them towards the marginal credit products such as payday loans, consumer leases and debt management firms. This report argues that government can and should improve the terms under which these products are offered.
Good Shepherd Microfinance commissioned Digital Finance Analytics (DFA) to examine how women access and use payday loans. The report found women are using payday lending more. In 2005 about 84,000 women had used payday lending, but this had grown to 177,000 in 2015, a 110%...
This report explores one aspect of the consumer credit sector: payday loans. Payday loans are a ‘fringe’ credit product, operating outside the mainstream credit sector. In this report they are defined as loans that are small (no more than $1,000 but typically less than $250)...