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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 […]

Media Release: Buy Now Pay Later Changes Must Go All The Way, Consumer Groups Say

No ratings yet. Buy now pay later (BNPL) products must be fully regulated as credit to protect consumers and put all credit providers on a level playing field, a coalition of consumer groups has said. The group, including CHOICE, financial counselling associations and consumer legal centres, has made the call as Treasury releases a consultation […]

Media Release: Let’s Pass The Finance Sector Reform Bill: The Stop The Debt Alliance Strongly Endorses Senate Committee Recommendation

No ratings yet. The Stop the Debt Trap Alliance, a coalition of dozens of consume advocacy organisations from around Australia, including financial experts, community advocates and service providers has strongly endorsed a recommendation from the Senate Economics Legislation Committee that the Finance Sector Reform Bill 2022 (FSR Bill) be passed and called on it to happen as […]