The Financial Rights Legal Centre continues to believe that that the simplest approach to dealing with the dangers of small amount credit contracts and consumers leases is to ensure that they are all subject to a 48 per cent Annualised Percentage Rate (APR) cap. However, Financial Rights welcomes this Final Report, supports most of its recommendation and seeks implementation of these recommendations as soon as possible to limit the ongoing damage to financially vulnerable consumers wrought by the pay day loan and consumer lease sector.
