Submission to the ‘Proposed Industry Funding Model for the Australian Securities and Investments Commission’ consultation

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.