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 […]
Media Release: Harvey-Norman And Latitude Case Alleging Misleading ‘Interest-Free’ Credit Card Promotions Welcomed By Consumer Advocates
No ratings yet. 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 […]
Media Release: Consumer And Social Service Groups Welcome Community Consultation On Removing Buy-Now-Pay-Later And Other Credit Loopholes
No ratings yet. 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 […]
Media Release: Government’s Commitment To Regulate Buy Now Pay Later Products Welcomed
No ratings yet. 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), […]
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
No ratings yet. 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 […]
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.
