News in brief: Labor plan to ban loan machines which instantly dispense cash loans of between $50 and $1000

Updated June 5 2019 - 11:33am, first published 2:30am
CASH: Credit trap.
CASH: Credit trap.

MEMBER for Swansea and shadow minister for better regulation, Yasmin Catley, said NSW Labor was standing up for vulnerable people by tabling a bill that proposed to ban instant cash loan machines. She said the machines often trapped low-income earners "in vicious cycles of debt". The machines look like ATMs and instantly dispense cash loans of between $50 and $1000. There is one such machine at San Remo. "This is about protecting people from being ripped off," Ms Catley said.

Subscribe now for unlimited access.

$0/

(min cost $0)

or signup to continue reading

See subscription options

Get the latest Newcastle news in your inbox

Sign up for our newsletter to stay up to date.

We care about the protection of your data. Read our Privacy Policy.