The payday lending sector is under scrutiny again after the Australian Securities and Investment Commission’s investigation into Nimble. After failing to meet responsible lending obligations, Nimble must…
The latest survey on the basic understanding of financial terms like “loan”, “interest rate” and “budget” makes for shocking reading. The Money Advice Service surveyed 3,000 adults and found that 32% did…
The British Chancellor George Osborne recently refused to answer a simple times table question posed to him by seven-year-old school boy Samuel Reddings. Osborne was asked the question 7x8, but declined…
There are class tensions existing very close to the surface of the government’s policy to increase the number of students from disadvantaged areas going to university. New data shows that the number of…
The chairman of the Australian government’s Financial Sector Advisory Council, Paul Binsted, believes that bankers who have experienced financial crises are more cautious about taking risks. However, short…
Almost 3 million adult Australians are entirely or severely excluded from mainstream financial services including bank loans and even bank accounts, and are often instead uninsured and reliant on loansharks…
In a 2008 paper on neuroeconomics, Carnegie Mellon University economist George Loewenstein said: “Whereas psychologists tend to view humans as fallible and sometime even self-destructive, economists tend…