[Greens-Media] Rees government must save households from credit binge

[John Kaye]

Rees government must save households from credit binge
 
NSW households remain unprotected from credit sharks despite cash
advances leaping 14 percent compared to same period last year, according
to Greens NSW MP John Kaye.
 
Commenting on a story on page 6 of today’s Sydney Morning Herald ('Buy
now, suffer later', p6) Dr Kaye said:  "The Rees government is still
dragging its feet on protecting people from credit card rip offs.
 
"More and more households are turning to cash advances from credit
cards in order to make ends meet and are paying up to 25 percent
interest.
 
"As the financial crisis hits household budgets Fair Trading Minister
Virginia Judge should fast track the introduction of tighter consumer
credit protections.
 
"This is a time when there is a great pressure on household budgets.
The Rees government cannot stand by and do nothing when so many people
will become victims of unfair lending practices," Dr Kaye said. 
 
For more information: John Kaye 0407 195 455