Submission to: Reserve Bank of Australia Joint consumer group submission (led by Choice). We argue that Buy Now Pay Later providers are not playing by the same rules as other merchants and this imposes costs on all consumers. We also welcome the RBA's intervention to coordinate regulatory and industry action in relation to managing direct debits and recurring payments. It is ludicrous that consumers still have difficulty in cancelling these deductions.
Submission to: ASIC We support the approach by ASIC on the implementation of the product intervention power. In legislating this power, the Parliament has recognised the need for ASIC to prevent or halt significant consumer detriment when it is identified.