What are the reforms?

The reforms will tackle predatory lending by:

  • Limiting repayments for payday loans and consumer leases so that no person can spend more than 10% of their net income on either product.
  • Placing a cost cap on what providers can charge for consumer leases for the first time, at 4% of the retail price per month for a maximum of 48 months.

What people can do NOW

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