Media Release: Harvey-Norman And Latitude Case Alleging Misleading ‘Interest-Free’ Credit Card Promotions Welcomed By Consumer Advocates
Consumer Action, Financial Rights Legal Centre and CHOICE have welcomed the Australian Securities and Investments Commission’s (ASIC) commencing legal action against Latitude Finance Australia and Harvey Norman Holdings for misleading interest free advertising in relation to credit cards promoted in Harvey Norman stores. Community lawyers and financial counsellors have assisted many clients struggling to pay […]
Media Release: Consumer And Social Service Groups Welcome Community Consultation On Removing Buy-Now-Pay-Later And Other Credit Loopholes
Key consumer and social service groups are welcoming the Federal Government’s announcement that the process of introducing better safeguards for buy now pay later (BNPL) and other credit products has now begun. This morning the Assistant Treasurer and Minister for Financial Services, Stephen Jones, has told participants at a conference that the consultation process has […]
Media Release: Government’s Commitment To Regulate Buy Now Pay Later Products Welcomed
Key consumer and community groups are welcoming comments by the new Minister for Financial Services, Stephen Jones, that the Government will move to regulate buy now pay later (BNPL). Minister Jones made the comments in The Guardian, saying, “let’s start working on regulating [them] within the credit space.” Financial Counselling Australia (FCA), CHOICE, Anglicare Australia, […]
Time to finally end the harm done by Cigno loans
Consumer groups and financial counsellors are urging the Australian Securities and Investments Commission (ASIC) to act now to put an end to the use of harmful lending models used to charge excessive fees on top of short-term loans.
MEDIA RELEASE: Consumer advocates welcome recommendation for stricter controls of credit funded gambling online
Consumer advocates welcome recommendation for stricter controls of credit funded gambling online
MEDIA RELEASE: Government must go back to the drawing board on new Open Banking rules that undermine Australians’ privacy rights
Financial Rights Legal Centre is calling on the Australian Government to halt the introduction of new rules that will increase privacy and security risks for people when sharing their financial data. The government should rescind proposals to: allow the transfer of raw financial data and “insights” outside of the safeguards and protections of the Consumer […]
Don’t suffer in alone – there is FREE financial counselling available
“Don’t suffer alone.” That’s the key message from the National Debt Helpline (NDH) and Small Business Debt Helpline (SBDH) to those who are financially affected by lockdowns in NSW and Victoria.
Consumer groups applaud Federal Court ruling to uphold ASIC intervention in short-term credit market
Today’s Full Federal Court decision to dismiss an application by Cigno Pty Ltd (Cigno), seeking to quash the Australian Securities and Investments Commission’s (ASIC) product intervention order to reign in short-term credit fees and charges, has been applauded by consumer advocates.
Court decision on Cigno lending model “extremely disappointing”
Today’s Federal Court decision that the lending model promoted by Cigno Pty Ltd did not breach the National Consumer Credit Protection Act (National Credit Act) is extremely disappointing, and consumer advocates have urged the Australian Securities and Investments Commission (ASIC) to appeal the decision.
Media Release: Australian Government should respect citizens’ rights to consent to data sharing
Financial Rights Legal Centre is calling on the Australian Government to respect the rights of joint bank account holders to control their own data.