Credit Reporting - Consumer Action Law Centre

ASIC Consultation Paper 354: Relief for simple arrangements following a hardship notice

The Australian Investments and Securities Commission's (ASIC) Class Order 14/41 is due to expire in March 2022. Consumer organisations recommend that ASIC allows this to happen. This instrument no...

Submission: Consultation on revision to the new Prudential Standard APS 220 Credit Risk Management

This submission is from Consumer Action Law Centre, Financial Rights Legal Centre, Victorian Aboriginal Legal Service, CHOICE, Financial Counselling Australia, Consumer Credit Law Service (W...

Up to 1.9 million Australians paid debt vultures in the last 12 months: REPORT

According to a new report released today by Consumer Action Law Centre, approximately 1.4 to 1.9 million Australians have paid for debt management or credit repair services in the last 12 months. Thes...

Debt Management: Quantum Market Research

This report by Quantum Market Research on debt management firms is based on its AustraliaNOW weekly survey of attitudes and behaviour during COVID-19. A total of 2,005 people representative of age,...

No impact on credit files during COVID-19 pandemic a welcome announcement by banks

Consumer groups welcome the announcement by the Australian Banking Association that bank customers applying for payment deferrals as a result of the COVID-19 pandemic will not have a missed payment or...

Keeping comprehensive credit reporting fair for those who have previously experienced hardship

Leading consumer advocacy bodies are concerned that customers who experience financial difficulty repaying loans will be unfairly penalised by credit reporting reforms proposed by the National Consume...

Joint submission: Attorney-General’s Department Review of Financial Hardship Arrangements

Consumer advocates consider that any additional information permitted to be shared or held as part of the credit reporting system is inherently a further privacy intrusion and must be justified to be...

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 exper...

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...

Submission: Bankruptcy Amendment (Enterprise Incentives) Bill 2017

Financial Rights Legal Centre and Consumer Action Law Centre made a joint submission to the Senate Legal and Constitutional Affairs Legislation Committee's Inquiry into the Bankruptcy Amendment (Enter...

Royal Commission into Misconduct in the Banking, Superannuation and Finance Sector – Consumer Action submission part 1

Consumer Action Law Centre has published part 1 of its initial submission to the Royal Commission into Misconduct in the Banking, Superannuation and Finance Sector today. The submission draws on the e...

Submission: Open Banking Review

Consumer Action Law Centre, Financial Rights Legal Centre and Financial Counselling Australia are pleased to make this submission in response to the Open Banking Review Issues Paper. We acknowledge t...

Submission: Inquiry into Competition in the Australian Financial System

The Consumer Action Law Centre (Consumer Action), Financial Counselling Australia (FCA) and the Financial Rights Legal Centre (Financial Rights) have welcomed the Productivity Commission’s review of c...

Veda to refund consumers after breaching privacy rules

Veda Advantage Information Services and Solutions Ltd (Veda) is being forced to refund thousands of consumers who paid to obtain credit reports under Veda’s expedited delivery deal, according to a dec...

Public Inquiry: Data Availability and Use

Consumer Action has provided a submission in response to the Productivity Commission's Issues Paper for its inquiry on Data Availability and Use. The submission primarily focuses on the need to mai...

FOS Determination on hardship variations, and credit reporting

The Financial Ombudsman Service (FOS) has recently made a determination which has important implications for credit reporting in Australia, particularly in how it relates to hardship variations. Pr...

Report: A quick fix? Credit repair in Australia Summary of findings

Consumer Action is pleased to be able to publish a summary of a Melbourne Law School report into credit repair, which involved a review of Consumer Action’s casework and interviews with Consumer Actio...

Submission: Proposed Principles of Reciprocity and Data Exchange

The Consumer Action Law Centre, Financial Rights Legal Centre and Financial Counselling Australia have made a joint submission to the Australian Competition and Consumer Commission (ACCC) on the likel...

Consumer alert – Complaints about Malouf Group Enterprises

Originally posted September 4, 2014 Consumer Action Law Centre has received a number of complaints about Malouf Group Enterprises – a ‘credit repair’ company that a number of consumers have turned...

Media release: Credit reporting agency accused of breaching new credit reporting rules

Veda Advantage Ltd, a company which stores the credit history of millions of Australians, has been accused of breaching new credit reporting laws by promoting its $79.95 credit report at the expense o...

Submission: Consultation on proposed credit repair guideline

Consumer Action has provided comment on Credit Ombudsman Service's proposed guideline on credit repair. We welcome this proposal, and recommend that the Credit Ombudsman: reword the proposed guidel...

Credit reporting late payment listing change to benefit consumers

Consumer Action welcomes the proposal to amend the new credit reporting laws so that the five day grace period for late payments recorded on a consumer’s credit report is extended to 14 days. Under...

Credit reporting – correcting mistakes

Key message You have a right to have inaccurate information on your credit report corrected free of charge Significant changes to the information that can be contained on your credit report oc...

Media release: New laws give credit providers access to more of your information

Wednesday 12 March marks the introduction of a new credit reporting system which will collect far more information about Australians’ credit history. The extra information is supposed to help credit p...

Submission: Consumer Credit Regulations

Consumer Action and the Consumer Credit Legal Centre NSW have made a joint submission to Treasury on exposure draft consumer credit regulations affecting payday lenders. In summary, we are supportive...

Joint Submission: Changes to Disclosure Requirements under the National Consumer Protection Act 2009

Consumer Action and the Consumer Credit Legal Centre welcomes Treasury's approach of basing revised disclosure on the findings made by the Uniquest report. Uniquest was commissioned by the Standing Co...

Joint submission: Credit Reporting Privacy Code

Consumer Action has, in conjunction with five other consumer and privacy advocate organisations, made a submission to the review of the Credit Reporting Code of Conduct. An industry code should be se...

Submission: ASIC Consultation Paper on an online database for small amount lenders

Joint submission with Financial Counselling Australia and the Consumer Credit Legal Service (WA) to ASIC's Consultation Paper on an online database for small amount lenders. The Consumer Action Law Ce...

Amendments to privacy legislation

Amendments to privacy legislation regulating credit reporting passed Federal Parliament late last year. While the reforms won't come into effect until March 2014, lenders can already begin collecting...

Joint media release: Consumer groups fear small debts could lead to big problems for Australian consumers

This is a joint media release from Financial Counselling Australia, Australian Privacy Foundation, Australian Communication Consumer Action Network, Consumer Credit Legal Centre NSW and Consumer Actio...

Submission: Proposed regulations for the Privacy Amendment (Enhancing Privacy Protections) Bill

Consumer Action has made a submission to the Commonwealth Attorney-General's Department on proposed regulations for the Privacy Amendment (Enhancing Privacy Protections) Bill. This submission discusse...

Submission: Inquiry into the Privacy Amendment (Enhancing Privacy Protection) Bill 2012

The Consumer Action Law Centre (Consumer Action) welcomes the opportunity to comment on Privacy Amendment (Enhancing Privacy Protection) Bill 2012. Our submission concerns the changes relating to cre...

Briefing paper: Credit reporting and responsible lending

The Australian Law Reform Commission (ALRC) recently recommended that some additional types of information should be allowed on individual credit reports, but that repayment history information should...

SERVICES

ASSISTANCE FROM US

COURSES

RESOURCES

ENGAGE WITH US

SUPPORT IS HERE:

POLICY

CAMPAIGNS

CHANGE IS HERE:

ABOUT US

WORK WITH US

WHO WE HELP

WE ARE HERE: