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‘Pay day’ lending

In recent years, the 'payday' lending sector has come under increased scrutiny and has been the subject of community and regulator concern.

During 2015, after careful consideration, we took the commercial decision to exit customers who provide 'payday' lending products and will no longer support new customers where we are aware that they provide payday lending products.

We are exploring options to better support vulnerable consumers, including through engagement with the Australian Banking Association on the development of an industry-wide, fair and sustainable solution.