23 September 2020
MEDIA RELEASE CALC 22 SEPT 2020 A Senate Committee has handed down its final report on proposed reforms to payday loans and consumer leases in the National Consumer Credit Protection Amendment (Small Amount Credit Contract and Consumer Lease Reforms) Bill 2019 (No. 2), otherwise known as the SACC Bill. The Committee recommended the Government 'progress sensible reform and strengthen regulation in the area of small amount credit contracts and consumer leases'. The Committee also ...
10 August 2020
  Joint Submission from the Financial Counselling Sector re ASIC Consultation Paper 330 Using the product intervention power: Continuing credit contracts   The financial counselling sector supports ASIC using its product intervention power to impose a total cost cap in relation to the Cigno continuing credit model. This will ensure fees and charges by credit providers and their associated entities cannot exceed the maximum under the continuing credit exemption as set out ...
30 April 2020
Please see below an extract from the House of Assembly Hansard from yesterday: Small Amount Credit Contracts The Hon. V.A. CHAPMAN (BraggDeputy Premier, Attorney-General) (15:25): I rise today to raise an issue regarding the effects on constituents in all our electorates of payday lending and consumer leases, also known as small amount credit contracts. As COVID-19 affects many South Australians' employment and financial affairs, it is expected that the demand for finance will rise....

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