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consumer report which was recently commissioned jointly by the Consumer Action Law Centre, Melbourne, Good Shepherd Micro-Finance and the Financial Rights Legal Centre, Sydney. The report has been provided by Digital Finance Analytics (DFA), which completed its analysis using insights from the DFA household survey, which is an omnibus that engages with 26,000 households a year about their finances.
A report by Digital Finance Analytics and Monash University Centre for Commercial Law and Regulatory Studies (CLARS). This research was commissioned by Consumer Action Law Centre, Good Shepherd Microfinance, and
Financial Rights Legal Centre. Research was conducted by Digital Finance Analytics and the Centre for Commercial Law and Regulatory Studies at Monash University, using their proprietary tools and methods.
This report draws on quantitative and qualitative survey data collected by DFA over the past 10 years. The report reviews detailed data from the 2005, 2010 and 2015 surveys as a means to dissect and analyse the longitudinal trends. The data results are averaged across Australia to provide a comprehensive national picture of the financial behaviour of Australians, with a particular focus on the role and impact of payday lending.
The DFA report is based on consumers responses to an omnibus survey that interfaces with more than 26,000 Australian households each year. The report, among other things demonstrates the tremendous growth of the payday lending industry in the last ten years, the growth in the number and type of Australians using payday loans and a variety of demographic and qualitative information about those users.
Financial Rights acknowledges Aboriginal and Torres Strait Islander peoples as the traditional owners and celebrate the diversity of Aboriginal peoples and their ongoing cultures and connections to all lands and waters. Financial Rights acknowledges the Gadigal people of the Eora Nation as the traditional owners and custodians of the land on which our main office is located. We pay our respects to Elders past and present and future traditional custodians and Elders of this nation and the continuation of cultural, spiritual and educational practices of Aboriginal and Torres Strait Islander peoples.
Aboriginal and Torres Strait Islander peoples should be aware this website may contain images or names of people who have passed away.