Gerard Brody, CEO Consumer Action

Opinion: Responsible lending law repeal will undo good

First published in the Herald Sun, 8 February 2021. In the two years since the Hayne Royal Commission Final Report while the Federal Government has made some changes to strengthen consumer protecti...

Government waters down payday lending reforms

The Government has announced that it will weaken proposed consumer protections it promised to implement nearly four years ago in relation to small amount credit contracts (payday loans) and consumer l...

Responsible lending law reform needed urgently

Consumer groups are extremely disappointed in ASIC’s decision not to appeal the Full Federal Court’s decision in the Westpac case to the High Court of Australia.[1] The Financial Rights Legal Centr...

Protecting guarantors from financial abuse

In our feedback to the Banking Code Compliance Committee (BCCC) inquiry into banks’ compliance when accepting and enforcing guarantees, Consumer Action discusses our concerns with guarantee provision...

Who is making Australians bankrupt?

One of Australia’s largest debt collectors – Lion Finance (a subsidiary of ASX-listed Collection House Ltd) – turns to bankruptcy procedures to collect consumer debts far more often than its rivals, a...

ASIC Consultation Paper 313: Product intervention power

We welcome the introduction of the product intervention power (PIP) and look forward to ASIC using the power to target businesses that cause consumer detriment by engaging in predatory conduct or fail...