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Advocates welcome continued ban on use of Centrepay by business operating in remote Australia, and call for broader Centrepay reform

First Nations and other consumer advocates have welcomed the extension of ASIC’s interim Stop Order on Coral Coast Distributors (Cairns) Ptd Ltd trading as Urban Rampage (Urban Rampage) retail stores, where customers enter agreements to pay for goods on credit through Centrepay deductions. The original stop order was imposed because ASIC received complaints about Urban […]

Consumer groups welcome step towards treating Buy Now, Pay Later as credit

Photo of bills

Regulation of Buy Now, Pay Later a step closer, but concerns remain over details Consumer groups respond to draft Buy Now, Pay Later legislation (BNPL) released today. Quotes attributable to Karen Cox, CEO of Financial Rights Legal Centre “ Today is a positive day for Australian consumers with the Government proposing draft legislation to treat […]

Financial Rights in the Media – Mortgage stress

Financial counsellor speaking to client on the phone

What to do if you’re struggling to make your mortgage repayments as interest rates rise By ABC business reporter Stephanie Chalmers After 12 interest rate rises since last May, home owners who have a mortgage are facing a steep rise in repayments. Borrowers are feeling the pain to varying degrees — if there are two more […]

Advocates And Industry Agree: Time To Close Lending Loopholes On Buy Now, Pay Later

No ratings yet. Key stakeholders call for buy now, pay later should be regulated as meantime credit In submissions released publicly by the Treasury today, major banks, industry associations, regulators and consumer advocates are unified in calling for an end to lending loopholes allowing buy now, pay later providers to avoid safe lending laws. Groups […]

Media Release: High Court Dismisses Last Ditch Appeal By Rogue Lender

No ratings yet. Consumer advocates have welcomed the dismissal by the High Court of a special leave application by Cigno Pty Ltd (Cigno) and BHF Solutions Pty Ltd (BHFS) against the Full Federal Court’s finding in enforcement proceedings brought by corporate regulator the Australian Securities and Investments Commission (ASIC). Cigno and BHFS sold small amount […]