Submission to: ASIC We support ASIC using its product intervention power to prohibit short term lending models (the Cigno model). The short term lending model currently being used by Cigno causes significant harm to people and we urge ASIC to intervene urgently.
Submission to: Senate Economics Legislation Committee This is a joint submission from the financial counselling sector. The submission includes a number of recent case studies from financial counsellors about the harm clients experience with payday loans and consumer leases. (The financial counselling sector is also part of the joint consumer group submission on this Bill – see other listing).