Fitzroyalty

Hyperlocal news about Melbourne's first suburb: Fitzroy 3065

pay-day lender closes on Smith St

| 2 Comments

I’m happy to see certain businesses close, such as those that exploit people like pay-day lenders that charge extortionate interest rates for loans taken out by people who are effectively innumerate and financially illiterate. Like the gambling industry, pay-day lenders exploit those with the least to lose. Good riddance.

smith st fitzroy deadpool businesses

2 comments

  1. Here’s hoping that Cash Converters across the road will follow suit. I’ve always been appalled at the sign outside encouraging people on Government benefits to apply for (hideously expensive) unsecured cash loans – it’s just wrong.

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    • I genuinely think it’s god that these business shut down (which is preferable to them just moving elsewhere). However I concede that the reality is that they are probably just following their poor customers away from Fitzroy due to gentrification.

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