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....