In many cases high-cost credit businesses are making people’s lives worse, creating debt they cannot repay and causing financial stress.

Many of the businesses providing high-cost credit are preying on people, including through targeted marketing strategies and advertising, who have limited economic resources and limited access to mainstream credit.

The National Consumer Credit Protection Amendment (Small Amount Credit Contract and Consumer Lease Reforms) Bill must be passed as a matter of priority to address many of the predatory and unfair practices of high-cost credit businesses providing payday loans or consumer leases.