‘A matter of urgency’: Community sector calls on Senate to pass the Financial Sector Reform Bill now

Community organisations that are part of the Stop the Debt Trap Alliance are urging the Senate not to further delay the Financial Sector Reform (FSR) Bill. The Bill needs to be passed as a matter of u...

November 25, 2022

Intense cost of living pressures make longstanding reforms to high-cost credit urgent

An edited version of this opinion piece appeared in the Herald Sun on 19 July 2022 Way back in November 2016, the Turnbull Government announced that it would implement recommendations made by an in...

July 19, 2022

ASIC litigation against fictitious high-cost ‘leases’ protects against exploitation

Consumer Action has welcomed the Australian Securities and Investment Commission’s (ASIC) announcement that it has sued Rent4Keeps and Layaway Depot for breaches of the National Credit Code involving...

April 12, 2022

Private member’s Bill addresses Government’s ‘half-baked’ proposals on payday loans and high-cost leases

A private member’s Bill introduced in Parliament today by Andrew Wilkie MP would, if passed, greatly reduce the harm that high-cost payday loans and consumer leases cause to thousands of Australians....

November 30, 2020

Parliament must kick ‘rent-to-buy’ products off Centrepay for good

Consumer Action has thrown its support behind a private member’s Bill introduced to the Senate yesterday to stop ‘rent-to-buy’ operators from accessing the Government’s bill paying service.  The Bi...

November 13, 2020

“Stop the harm”: Renewed calls for consumer lease providers to be kicked off Centrepay 

The Commonwealth Ombudsman recently handed down its final decision on Consumer Action Law Centre's complaints about Services Australia failing to enforce the Centrepay Policy against predatory consume...

October 9, 2020

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...

September 28, 2020

Regulator reveals telcos failing to do proper credit checks 

The telco regulator has released worrying findings from its mystery shopping study into companies' credit assessments today.  The study released today by the Australian Communications and Media Aut...

June 30, 2020

We’re at crisis point. Government needs to shut down predatory lenders.

Every week, community and consumer advocates speak to people trapped in payday lending debt. For years, we’ve been campaigning to stop the debt trap and harm caused by payday lenders. We’ve talked to...

April 16, 2020

A little relief will go a long way for thousands struggling due to COVID-19

Widespread disruption caused by COVID-19 is being felt across Australia. It won’t be long before we have thousands of people trying to survive on a reduced income, worried about whether they can pay t...

March 16, 2020

This isn’t news, but thousands of people getting caught in debt is

Consumer Action Law Centre (Consumer Action) has made a submission on reforms to make payday loans and rent-to-buy schemes safer, fairer and more affordable. This is the fourth time the Centre has mad...

February 26, 2020

Time’s up: Government must step up and pass payday lending and rent-to-buy reforms

Consumer Action's submission to the Senate Economics Legislation Committee calls on Parliament to pass the National Consumer Credit Protection Amendment (Small Amount Credit Contract and Consumer Leas...

February 25, 2020

New report reveals how irresponsible lenders are causing harm in Victorian Aboriginal communities

Consumer Action Law Centre (Consumer Action) and the Victorian Aboriginal Legal Service (VALS) are launching a new report on how irresponsible lenders are causing harm in Victorian Aboriginal communit...

February 14, 2020

Consumer Issues in Victorian Aboriginal Communities: Integrated Practice Project Report 2020

‘Consumer issues in Victorian Aboriginal communities’ reports findings from Consumer Action Law Centre’s (Consumer Action) and the Victorian Aboriginal Legal Service’s (VALS) Integrated Practice proje...

February 14, 2020

Protecting Australian families from dodgy vendor terms and rent-to-buy arrangements

Over the years, our team has assisted a number of people who have been adversely affected by failed vendor finance and rent-to-buy deals, which are promoted as an opportunity to achieve home ownership...

October 15, 2019

Rent4Keeps sued over unaffordable consumer leases

A Victorian woman living with a disability has brought proceedings in the Federal Circuit Court regarding five consumer lease contracts from Darranda Pty Ltd, trading as Rent4Keeps, and Mobberley Ente...

September 13, 2019

Newly passed bill officially bans rent-to-buy and vendor finance schemes from the Victorian housing market

The historic ban on certain residential vendor terms and rent-to-buy agreements, included in the Sale of Land Amendment Bill 2019 passed by Parliament this week means vulnerable home purchasers will b...

May 30, 2019

Ban on vendor term and rent-to-buy transactions to make buying a home fairer for all Victorians

Consumer Action Law Centre (Consumer Action) supports a ban on vendor term and rent-to-buy agreements in the housing market proposed by the Sale of Land Amendment Bill 2019, which is to be introduced...

March 20, 2019

Submission: Inquiry into credit and financial services targeted at Australians at risk of financial hardship

This Senate Inquiry is a crucial opportunity to close the regulatory loopholes exploited by fringe lenders and ‘debt help’ companies. These companies can entrench disadvantage for some of the most vul...

November 12, 2018

Class Actions and Third-Party Litigation Funders: ALRC Inquiry

Consumer Action Law Centre made a submission to the Australian Law Reform Commission's Inquiry into Class Action Proceedings and Third-Party Litigation Funders (Discussion Paper 85, June 2018) (ALRC I...

August 20, 2018

Royal Commission into Misconduct in the Banking, Superannuation and Finance Sector – Consumer Action submission part 2

Consumer Action Law Centre has published part 2 of its submission to the Royal Commission into Misconduct in the Banking, Superannuation and Finance Sector today. The submission draws on the experienc...

February 5, 2018

Radio Rentals hauled over the coals for irresponsible lending – again.

Today, the corporate regulator ASIC announced it is taking action against consumer leasing giant Radio Rentals after the company admitted to breaching responsible lending laws. Consumer Action Law...

January 23, 2018

Rent-to-buy: How many second chances do they deserve?

How should we describe a Government that wants to end the practice of 884% equivalent interest rates being charged to Australians who don’t have a spare $345 to buy a clothes dryer? It is a Government...

December 5, 2017

Submission: Small Amount Credit Contract and Consumer Lease Reforms

We are pleased to make a submission in regards to the Exposure Draft Bill (the Bill) and Explanatory Materials implementing the Government’s response to the Small Amount Credit Contracts Review (the R...

November 6, 2017

Consumer Action takes consumer lease provider Rent4Keeps to court

In the same week that the Federal Government has released draft legislation to reform payday loans and consumer leases, Consumer Action Law Centre (Consumer Action) has announced proceedings in the Fe...

October 27, 2017

Federal Court judgment against property spruiker shows ‘rent-to-buy’ is a sham

Consumer Action Law Centre says today’s Federal Court ruling that property spruiker Rick Otton misled and deceived hopeful property entrepreneurs shows that so-called ‘rent-to-buy’ schemes are a compl...

August 11, 2017

“They don’t take no for an answer” – Davinia’s story with “rent-to-buy”

You can stop other families being ripped off. The Government has committed to stopping rent-to-buy and consumer lease rip offs. They need to hear your voice - let them know they’re doing the right th...

April 12, 2017

120 day delay inflicting greater payday pain

Consumer groups call for the Federal Government to take immediate action to protect payday loan and lease borrowers. The Consumers Federation of Australia, CHOICE, Consumer Action Law Centre, Financi...

March 27, 2017

Consumer Action calls for Fair Finance – Reform of payday loans and rent-to-buy

Consumer Action Law Centre has hit Federal Parliament to speak with Senators and MPs about making finance fair by reforming payday loans and rent-to-buy products. Read more about the day: Tweets about...

March 27, 2017

Radio Rentals sued over irresponsible ‘Rent Try Buy’ contracts

A Victorian single mother of four children has sued Radio Rentals in the Federal Circuit Court alleging that six 'Rent Try Buy' contracts were irresponsible and unjust. The woman, a victim of famil...

March 24, 2017

Payday lending reform will make people’s lives better

Consumer advocates say that the Government’s response to a recent review of payday lending and consumer leases laws is a good start and can go further to support Australians who are struggling to make...

November 28, 2016

Eager homebuyers still falling victim to shadowy rent-to-buy deals

Eileen Webb, Curtin University and Allan Fels, University of Melbourne Those looking to get a piece of the Australian dream of buying a home are still falling victim to the shadow property market o...

October 7, 2016

Fringe dwellings – the vendor finance and rent-to-buy housing black market: Report

Vendor finance and rent-to-buy schemes promise the Australian dream of owning your own home—without a bank loan. However, these deals typically do not result in successful home ownership and in som...

October 5, 2016

Payday loans the next financial disaster

https://www.youtube.com/watch?v=DaVTYoVoZaE A financial disaster is looming unless there is an urgent response to expert recommendations to clean up payday loans and consumer leases. As pressure...

April 19, 2016

Submission to consumer property law review: Issue Paper 1 – Conduct and institutional arrangements for estate agents, conveyancers and owners corporation managers

Consumer Action Law Centre (Consumer Action) is pleased to make this submission to Consumer Affairs Victoria's (CAV) review of Victoria's consumer property laws on Issue Paper 1: Conduct and instituti...

March 16, 2016

Submission to Council on Federal Financial Relations Affordable Housing Working Group – Innovative financing models

Consumer Action Law Centre (Consumer Action) is pleased to make this submission to the Affordable Housing Working Group. Consumer Action's legal service and financial counselling service assist many...

March 16, 2016

Vendor terms and rent-to-buy schemes

Vendor terms or 'rent-to-buy' schemes promise to help you buy property when you don’t have the income, savings or credit history to get a regular mortgage. Often there’s a broker or agent who advertis...

March 4, 2016

Victorian Mum takes on consumer rental company Flexirent and wins

A Victorian Mum of four has won a settlement of nearly $4000 after she took legal action against Flexirent Capital Pty Ltd, a subsidiary of the ASX listed company FlexiGroup Limited. Michelle T...

February 5, 2016

Submission: SACC Review Interim Report

Consumer Action has made its submission in response to the SACC Review Interim Report. We continue to push for tighter regulation on payday loans and consumer leases, which have been shown to cause si...

January 22, 2016

Review of the small amount credit contract laws – Submission

The Consumer Action Law Centre (Consumer Action) welcomes the opportunity to comment on the review of the small amount credit contract laws and comparable consumer leases (the review). Read the full...

October 16, 2015

New research shows struggling Australians suffering while the payday lending sector booms: Consumer groups

Consumer groups have cautioned policy makers not to fall for payday lending spin as new research from Digital Finance Analytics (DFA) shows the devastating impact of the industry on Australians strugg...

October 16, 2015

ASIC report highlights exorbitant costs of rent-to-buy household goods: Consumer groups

The poorest and most vulnerable Australians are paying grossly inflated prices for household goods via “rent-to-buy” or “consumer lease” deals, as shown by a new report from the Australian Securities...

September 11, 2015

Rent-to-buy products must be kicked off Centrepay

Leading consumer groups are calling for the Australian Parliament to support moves by the Senate to protect the integrity of Centrelink’s budgeting tool for essentials, Centrepay, by excluding rent-to...

September 10, 2015

Review is opportunity to improve protections for payday loan and rent-to-buy borrowers

Payday lending and rent-to-buy products are often a source of financial distress and hardship according to Consumer Action Law Centre. The centre welcomes the Federal Government's announcement that it...

August 7, 2015

Don’t make the poor pay more – time to end the free ride for rent to buy businesses: Consumer Groups

Consumer groups say draft legislation to ban rent-to-buy goods providers from Centrepay (Centrelink’s service that allows third parties to receive direct payment from welfare payments) is an essential...

June 24, 2015

Summary of Consumer Leases and Consumer Protection: Regulatory Arbitrage and Consumer Harm

Key points the regulatory distinction between 'consumer leases' and 'credit contracts' used in the National Credit Code is flawed and has created opportunities for regulatory arbitrage (defined b...

April 24, 2014

Direct Share Purchasing Corporation – defence kit

This self help kit was written at a time when Direct Share Purchasing Corporation had sued a number of consumers.  Changes to the law have made it unlikely that consumers will see these types of cases...

October 1, 2013

Report: The Hidden Cost of ‘Rent to Own’

We’ve all seen adverts promoting ‘Rent to Buy’ or ‘Rent to Own’ arrangements, where customers rent a product for a number of years before being given the option to buy or keep that product, but our la...

September 13, 2013

Consumers urged to get advice regarding rent to buy car agreements from Plunkett Rd in Dandenong

Consumer Action is urging consumers to seek legal advice if they have entered into a rent to buy car agreement at 10-12 Plunkett Rd in Dandenong. This agreement may be with R.V. Investments (Aust) Pty...

August 14, 2013

Submission: Commonwealth Treasury consumer leases issues paper

Consumer Action has made a submission to the Commonwealth Treasury on regulation of consumer leases. The submission argues that the purpose of any reform of regulation of consumer leases should be to:...

March 25, 2013