Review of the Australian Finance Industry Association (AFIA) Buy Now Pay Later Code of Practice

Consumer Credit Legal Services (WA) Inc. (CCLSWA) has drafted these submissions on behalf of the Consumers’ Federation of Australia (CFA) and its members. CFA is the peak body for consumer organisations in Australia, representing a diverse range of consumer organisations, including most major national consumer organisations including Consumer Action Law Centre.

The objectives of the CFA are to promote the interests of consumers, in particular low income and disadvantaged consumers, through various means, including:

  • identifying areas in which the interests of consumers are being adversely affected;
  • advocating policy and law reform changes to benefit Australian consumers;
  • conducting consumer awareness and information programs;
  • liaising with other consumer and community groups to advance the interest of consumers; and
  • facilitating consumer participation in the development of Australian and international standards for goods and services.

The CFA appreciates the value a robust code can bring by way of consumer protections and are pleased to see AFIA’s BNPL members are taking steps towards strengthening the standards for the sector. We have incorporated case studies as examples of our experiences.

The case studies in this submission have been de-identified and all names changed for privacy reasons. If the review would like to know the name of a BNPL provider or further detail on a particular case study, CCLSWA can approach the relevant service provider and/or client and seek their permission for those details to be provided.

Read the full submission PDF.

AFIA BNPL Code Review – CFA Submissions – FINAL
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