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<img width="1110" height="601" src="https://consumeraction.org.au/wp-content/uploads/Releases/Legal/Legal_JusticeTiles-1110x601.png" class="attachment-digitallaw-blog-two-column size-digitallaw-blog-two-column wp-post-image" alt="" />

Now is the time to make positive reforms to bankruptcy laws say consumer advocates

Consumer advocates around Australia have welcomed moves by Attorney-General Mark Dreyfus KC MP to reform bankruptcy laws. Last month, consumer advocates attended a Ministerial Roundtable on Perso...

<img width="1110" height="601" alt="" data-src="https://consumeraction.org.au/wp-content/uploads/Releases/Money/Money_DebtWall-1110x601.png" class="attachment-digitallaw-blog-two-column size-digitallaw-blog-two-column wp-post-image lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" /><noscript><img width="1110" height="601" src="https://consumeraction.org.au/wp-content/uploads/Releases/Money/Money_DebtWall-1110x601.png" class="attachment-digitallaw-blog-two-column size-digitallaw-blog-two-column wp-post-image" alt="" />

Government’s commitment to regulate buy now pay later products welcomed

Key consumer and community groups are welcoming comments by the new Minister for Financial Services, Stephen Jones, that the Government will move to regulate buy now pay later (BNPL). Minister Jone...

US Consumer Financial Protection Bureau’s Inquiry into Buy-Now-Pay-Later (BNPL) Providers

While there have always been various forms of instalment credit products in the marketplace, Buy Now, Pay Later (BNPL) is a uniquely Australian invention, that has now been exported around the world....

<img width="1110" height="601" alt="" data-src="https://consumeraction.org.au/wp-content/uploads/Releases/Money/Money_DebtWall-1110x601.png" class="attachment-digitallaw-blog-two-column size-digitallaw-blog-two-column wp-post-image lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" /><noscript><img width="1110" height="601" src="https://consumeraction.org.au/wp-content/uploads/Releases/Money/Money_DebtWall-1110x601.png" class="attachment-digitallaw-blog-two-column size-digitallaw-blog-two-column wp-post-image" alt="" />

US Government urged NOT to follow Australia’s lead with self-regulation of buy now pay later products

Australian consumer groups have warned the USA’s chief consumer regulator, the Consumer Financial Protection Bureau (CFPB), about major flaws in the self-regulation of buy now pay later (BNPL) product...

Options Paper: Possible reforms to the bankruptcy system

This joint submission to the Attorney General's Department is made by Consumer Action and Financial Rights Legal Centre. It is staggering that the Government is proposing to roll back its own highl...

Our submission on Buy Now Pay Later to the UK Woolard Review

Our casework experience in Australia shows that buy now pay later (BNPL) debts are causing or exacerbating financial hardship in substantially the same manner as detailed in the Woolard Review. In...

Australian consumer groups warn UK Government against industry “self-regulation” of Buy Now Pay Later

Financial Counselling Australia and the Consumer Action Law Centre have shared Australia’s experience of weak consumer safeguards for Buy Now Pay Later (BNPL), as part of the UK Government’s consultat...

Consumer groups applaud Federal Court ruling to uphold ASIC intervention in short-term credit market

Today’s Full Federal Court decision to dismiss an application by Cigno Pty Ltd (Cigno), seeking to quash the Australian Securities and Investments Commission’s (ASIC) product intervention order to rei...

<img width="1110" height="601" src="https://consumeraction.org.au/wp-content/uploads/Releases/Legal/Legal_JusticeTiles-1110x601.png" class="attachment-digitallaw-blog-two-column size-digitallaw-blog-two-column wp-post-image" alt="" />

Court decision on Cigno lending model ‘extremely disappointing’

Today’s Federal Court decision that the lending model promoted by Cigno Pty Ltd did not breach the National Consumer Credit Protection Act (National Credit Act) is extremely disappointing, and consum...

ASIC must reject licence applications from predatory debt vultures

Consumer Action has welcomed the news that Federal Treasurer Josh Frydenberg MP has made new regulations requiring debt management firms – also known as ‘debt vultures’ – to be licenced to provide ser...

Consumer advocates ‘gobsmacked’ by majority Senate report on predatory lending laws

A newly released report by the Senate Economics Legislation Committee has recommended Parliament pass proposed laws that fall woefully short of what advocates say is needed to protect people from pred...

<img width="1110" height="601" alt="" data-src="https://consumeraction.org.au/wp-content/uploads/Releases/Money/Money_DebtWall-1110x601.png" class="attachment-digitallaw-blog-two-column size-digitallaw-blog-two-column wp-post-image lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" /><noscript><img width="1110" height="601" src="https://consumeraction.org.au/wp-content/uploads/Releases/Money/Money_DebtWall-1110x601.png" class="attachment-digitallaw-blog-two-column size-digitallaw-blog-two-column wp-post-image" alt="" />

“Recipe for economic disaster”: Consumer groups slam Senate report on lending laws

Consumer groups condemn the majority’s recommendations of today’s Senate Inquiry Report, as the vote looms next week on the Government's disastrous proposal to axe safe lending laws. The repeal of...

People should not be living in poverty in Australia

“The Coronavirus Supplement was life changing for people who had long survived on the abhorrent amount Newstart (or JobSeeker) had been set at for years. For so long, they had to be great money manage...