CEO responds to inaccurate claims about SACC loans
NCPA CEO, Phillip Johns, has slammed the research being promoted by Good Shepherd Finance as an attempt to mislead the public about issues that don’t exist anymore. Also the assertion that small amount lenders target single income women is incorrect and denagrating to our Members.
Here is an extract from the transcript of that interview:
"PHILLIP JOHNS: That information is outdated and inaccurate. We've reviewed those statistics and the issue is that the Government banned payday loans and short-term finance back in March 2013 and that report, which was an omnibus survey of many households did not survey consumers in regards to payday loans or small amount credit contracts.
LUCY CARTER: Mr John's says his organisation's own research indicates there hasn't been a rise in women taking out short-term loans.
PHILLIP JOHNS: Our organisation completed a two year statistical survey through a third-party independent firm called CoreData.
They looked at 2.4 million small amount credit contracts and found that the typical user is actually an employed male, 37 years of age."
Here is a link to the full audio and transcript on ABC radio.