Global alliance calls for regulation of harmful buy now, pay later industry
CHOICE has joined consumer groups from 9 countries, including Consumers’ Federation of Australia (CFA), calling for urgent action on buy now, pay later (BNPL) credit providers as new data shows many...
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How ‘bad credit’ lender Cigno has dodged ASIC’s grasp
Cigno is exactly the sort of business the Australian Securities and Investments Commission had in mind when it asked for stronger powers to ban the sale of harmful financial products. This is a news...
View ArticlePeople should get their money back quicker and more easily following new ASIC...
The Australian Securities and Investment Commission (ASIC) has today published updated and revised remediation guidance for financial firms with the goal of treating wronged customers fairer and...
View ArticleNew protections for Victorian water customers
The state’s economic regulator today released updated water industry standards, strengthening support and protections for Victorian consumers, particularly those facing financial difficulties. This is...
View ArticleWorried about debt? Talk to your bank or creditors and avoid dodgy advice,...
Australians are facing the perfect storm for increased financial insecurity in the next 12 months, making them vulnerable to dodgy insolvency advice. On the back of a tough few years of fire, drought,...
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Regulation of Buy Now, Pay Later Announced – Consumer Groups Respond
Hands opening an empty brown leather wallet Buy now, pay later – or BNPL as they are otherwise known – are seemingly innocuous, and typically smaller, loan schemes. But, especially for those who are...
View ArticleMortgage Stress – Getting on the Front Roof
Original article by Chris Siemers, posted on the Australian Financial Complaints Authority website on 05/06/2023. Hundreds of thousands of fixed-rate loans will roll onto much higher rates in coming...
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Save Sorry Business Campaign and Stop the Debt Trap Alliance Win CFA’s 2023...
2023 Consumer Advocacy Award winners At the 2023 ACCC National Consumer Congress, the Consumers’ Federation of Australia (CFA) was proud to present our Consumer Advocacy Award for the best consumer...
View ArticleBuy Now Pay Later – Debt Traps and Essentials
Financial Counselling Australia’s latest report, ‘Small Loans, Big Problems‘, has highlighted once more the need for urgent reform to the Buy Now Pay Later (BNPL), especially with the continued cost...
View ArticleASIC sues ‘Debt Vulture’ Solve My Debt Now, and Director
Proceedings have commenced against operator of Solve My Debt Now, Bakken Holdings Pty Ltd (Bakken). The case is brought to the Federal Court by the Australian Securities and Investments Commission...
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