Media release: Consumer Action welcomes ASIC investigation into broker responsible lending conduct

Consumer Action Law Centre has welcomed the release of the Australian Securities and Investment Commission's (ASIC) investigation into mortgage brokers' responsible lending conduct, focusing on ‘low d...

November 18, 2011

Media release: Government warned that new credit card regulation may require running repairs

The Consumer Action Law Centre has welcomed the Federal Government’s ban on credit providers making unsolicited credit card limit increase offers to customers, but believes that ambiguity in the regul...

November 11, 2011

Media release: Payday lending practices challenged in court

The lending practices of Australian’s biggest payday lender, Cash Converters, are being challenged in proceedings issued in the Victorian Magistrates Court. A disability support pensioner is alleging...

October 17, 2011

Media release: New website delivers the cold hard and sad facts about payday lending

A coalition of consumer and financial counselling organisations has launched a new website to ensure the hard truths are heard in the debate about the future of short term high cost loans - www.debttr...

September 21, 2011

Media release: Government reforms offer a branch to consumers stuck in high cost short term lending quicksand

The Consumer Action Law Centre has welcomed the Federal Government’s proposed cap on the amounts lenders of high cost short term loans (often referred to as 'payday loans') can recover from consumers,...

August 25, 2011

Media release: 400 per cent interest rates undermine ‘responsible lending laws’

Exorbitant effective interest rates on short term loans, upwards of 400 per cent, continue to put the pinch on vulnerable Australians despite the introduction of responsible lending laws in 2010. Mis...

June 22, 2011

Submission: Reserve Bank of Australia – Treasury ATM Taskforce consultations

Consumer Action welcomes the opportunity to contribute to the RBA-Treasury ATM Taskforce's report on the March 2009 ATM reforms. The March 2009 reforms can be considered a broad success, both because...

April 15, 2011

Submission: National Consumer Credit Protection Amendment Regulations 2011 – exposure draft

Consumer Action welcomes the opportunity to comment on the exposure draft of the National Consumer Credit Protection Amendment Regulations 2011, setting out the proposed amendment to ban exit fees on...

February 25, 2011

Submission: Exposure Draft – National Consumer Credit Protection Amendment Regulations 2011

Consumer Action welcomes the opportunity to comment on the exposure draft of the National Consumer Credit Protection Amendment Regulations 2011, setting out the proposed amendment to ban exit fees on...

February 25, 2011

Submission: Financial Services Working Group – Corporations Amendment Regulations 2009

Consumer Action is a strong supporter of the objectives of the Financial Services Working Group in endeavouring to make financial services product disclosure simpler and more meaningful for consumers,...

March 5, 2010

Submission: Access Regime for the ATM System

Consumer Action supports the RBA’s efforts to improve the efficiency and competitiveness of payments systems in Australia, including the ATM system. As the Consultation notes, interchange fee amounts...

February 4, 2009

Joint submission: Review of the Code of Banking Practice 2007-2008

CHOICE and Consumer Action support and endorse the joint consumer submission to the Review of the Code of Banking Practice. This submission concentrates on the issue of bank penalty fees in more detai...

July 31, 2008

Submission: Inquiry into competition in the banking and non-banking sectors

Consumer Action is pleased to make a submission to the House of Representatives Standing Committee on Economics inquiry into competition in the banking and non-banking sectors. Our submission conside...

July 18, 2008

Submission: Financial Services and Credit Reform Green Paper

Consumer Action strongly supports Option 2 proposed on page 12 of the Green Paper, where the Commonwealth Government would assume responsibility, not only for mortgage credit and advice, but also for...

July 1, 2008

Submission: Reform of Australia’s payments system

Consumer Action is supportive of the approach by the Reserve Bank of Australia to the electronic payments system and we welcome the pragmatism of the RBA in stepping in and regulating interchange fees...

June 30, 2008

Submission: Inquiry into Australia’s Mandatory Last Resort Home Warranty Insurance Schemes

Consumer Action welcomes the Senate Economics Committee Inquiry into Australia’s Mandatory Last Resort Home Building Warranty Insurance (HBWI) schemes. We have long been concerned that the mandatory H...

April 16, 2008

Media release: Time well overdue for banks to cut their excessive penalty fees

Consumer Action Law Centre has written to the Australian Bankers Association (ABA) and Abacus Australian Mutuals demanding that banks, credit unions and building societies put a stop to penalty fees t...

May 11, 2007