REIA is firmly of the view that the size of deposit covered by the Financial Claims Schemeshould not be reduced from its current level of up to $1 million per depositor per authoriseddeposit-taking institution.

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) and short-term (usually with repayment periods of 30 days or...