Interactive Gambling Amendment (Prohibition on Credit Card Use) Bill 2020
Submission to: Senate Environment and Communications Legislation Committee
Related Projects
CDR Sectoral Assessment for the Open Finance Sector – Non Bank Lending
Submission to: Treasury
Joint consumer group submission (led by Financial Rights) into the application of the Consumer Data Right (CDR) to non-bank lenders. Non bank lenders include consumer lease providers, payday lenders, BNPL providers, wage advance companies and others. Extending the CDR to these companies would allow these businesses to circumvent the credit reporting regime and facilitate targeting of high cost finance to people in hardship. We are extremely concerned that the paper does not adequately consider these risks. We recommend a series of reforms including limiting CDR to companies that are part of the comprehensive credit reporting regime and an opt-in consent for jointly held accounts.
Joint consumer group submission (led by Financial Rights) into the application of the Consumer Data Right (CDR) to non-bank lenders. Non bank lenders include consumer lease providers, payday lenders, BNPL providers, wage advance companies and others. Extending the CDR to these companies would allow these businesses to circumvent the credit reporting regime and facilitate targeting of high cost finance to people in hardship. We are extremely concerned that the paper does not adequately consider these risks. We recommend a series of reforms including limiting CDR to companies that are part of the comprehensive credit reporting regime and an opt-in consent for jointly held accounts.
NCCP Amendment (Mandatory Comprehensive Credit Reporting) Bill
Submission to: Treasury
This joint consumer group submission responds to proposed legislation to include hardship flags in credit reports. We have long opposed this approach. The submission argues that proposed retention timeframes are too long, that hardship flags should only be visible to credit providers that are making responsible lending assessments and that hardship information should not be incorporated into credit scores.
This joint consumer group submission responds to proposed legislation to include hardship flags in credit reports. We have long opposed this approach. The submission argues that proposed retention timeframes are too long, that hardship flags should only be visible to credit providers that are making responsible lending assessments and that hardship information should not be incorporated into credit scores.