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Coast Labor MP Calls For Ban On Loan Machines

Claims it's targeting disadvantaged.

Coast Labor MP Calls For Ban On Loan Machines Image Credit: http://cashngo.com.au/store-finder/

There are calls for the Berejiklian Government to outright ban payday loan machines cropping up on the Central Coast.

There's a Cash N Go kiosk at Wyoming offering up to $1000 at a time with minimal checks, while the devices, which look like ATMs, have also been spotted in the Hunter and Illawarra.

Labor's Better Regulation spokesperson and Swansea MP Yasmin Catley says it's preying on vulnerable Coasties in low income areas.

“This is a predatory business model which preys on vulnerable consumers, leaving them in a debt trap which they can't escape from," Ms Catley says in a statement this morning.

"The Minister needs to intervene urgently and ban these machines."

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