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.
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.
Financial Rights Legal Centre is calling on the Australian Government to respect the rights of joint bank account holders to control their own data.
Financial Rights joins consumer groups to condemn Senate Inquiry Report, as vote looms on Government’s disastrous proposal to axe safe lending laws.
Financial abuse and domestic violence advocates will give evidence to the Senate Committee today about the harm women will face if the Government’s Supporting Economic Recovery Bill is passed.