The 'Wild West' of shadow banking | 7.30
A new wave of non-bank lenders is showering small businesses with high-risk loans at interest rates that be as high as 150 per cent. What many borrowers don't know is that normal consumer protection rules don't apply to these so-called shadow banks, and that can lead to disaster for people who borrow against their family home. Read more here: https://ift.tt/34qGHpy For more from ABC News, click here: https://ab.co/2kxYCZY If you're in Australia, you can watch more ABC News content on iview: https://ab.co/2mge4KH Subscribe to us on YouTube: http://ab.co/1svxLVE Go deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2 You can also like us on Facebook: https://ift.tt/1hqX5dh Or follow us on Instagram: https://ift.tt/1eOTzGY Or even on Twitter: http://twitter.com/abcnews
A new wave of non-bank lenders is showering small businesses with high-risk loans at interest rates that be as high as 150 per cent. What many borrowers don't know is that normal consumer protection rules don't apply to these so-called shadow banks, and that can lead to disaster for people who borrow against their family home. Read more here: https://ift.tt/34qGHpy For more from ABC News, click here: https://ab.co/2kxYCZY If you're in Australia, you can watch more ABC News content on iview: https://ab.co/2mge4KH Subscribe to us on YouTube: http://ab.co/1svxLVE Go deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2 You can also like us on Facebook: https://ift.tt/1hqX5dh Or follow us on Instagram: https://ift.tt/1eOTzGY Or even on Twitter: http://twitter.com/abcnews
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