MEDIA RELEASE Consumer Groups Strongly Disagree with OAIC Credit Reporting Guidance The Office of the Australian Information Commissioner (OAIC) has today published Guidance on its website about how lenders should treat Repayment History Information (RHI) for customers that are experiencing financial hardship. RHI is information about whether repayments on loans and credit cards are made on time. Proposed laws will [ More ]
It’s never been easier to get into debt. And it’s not just those on low incomes struggling to make ends meet – increasingly working people with good incomes are turning to high cost lenders for short term, fast loans. These lenders – most of which offer instant loans online – are making fat profits off people’s desire to have something [ More ]
Turnbull Government proposals to mandate ‘comprehensive credit reporting’ (CCR) will have negative consequences unless changes are made, according to Consumer Action Law Centre and Financial Rights Legal Centre. Prior to CCR, the only information on credit reports was ‘negative’ information, such as information about defaults on credit contracts, legal judgments and bankruptcy. With CCR, there will be much more information [ More ]
Financial Rights Legal Centre Inc is a community based legal centre in Surry Hills specialising in financial services, particularly consumer credit, banking, insurance and debt. Financial Rights operates the National Debt Helpline, the first port of call for NSW residents in financial difficulty. We are seeking a financial counsellor for a 12 month contract; we will consider part-time or full-time [ More ]
Financial Rights has today called on the general insurance industry to introduce a set of best practice standards for insurance investigations in its Code of Practice. This follows the release of the report titled Investigation of Claims and Outsourced Services by the insurance industry’s independent monitor – the General Insurance Code Governance Committee (CGC). The CGC Report found that: when [ More ]
