Consumer Action has today written to the Treasury noting that the Government intends to make amendments to the design and distribution obligations (DDO) regime.
The letter strongly urges the Government to address the seemingly unintended exclusion of consumer leases from the DDO regime.
Why are we pushing for this change? We continue to see unsuitable consumer leases cause significant harm amongst people seeking assistance from our services.
The harm has been demonstrated for years and is well documented. Consumer leases must not be excluded from the operation of the DDO regime and we strongly encourage the Government to take steps to ensure that this unintended loophole is closed so that the DDO regime can help improve consumer outcomes in relation to consumer leases.
Read the full letter (PDF).