Small Amount Credit Contract and Consumer Lease Reforms – Joint Submission
Submission to: The Treasury
Related Projects
Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry: Superannuation – Joint Submission
Submission to: Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
Pre-Budget Submission re 2020-21 Budget
Submission to: Treasury
The submission recommends that the Government implement the key recommendations of the Sylvan Review of financial counselling. This would entail formally accepting the recommendations of the Sylvan Review and immediately starting the process to draft legislation to implement the industry funding mechanism for financial counselling described in the Review. The submission also recommends that the government introduce the National Consumer Credit Protection Amendment (Small Amount Credit Contract and Consumer Lease Reforms) Bill and regulate debt management companies. All of these recommendations would help prevent financial stress and harm and are vital components of a financial recovery package.
The submission recommends that the Government implement the key recommendations of the Sylvan Review of financial counselling. This would entail formally accepting the recommendations of the Sylvan Review and immediately starting the process to draft legislation to implement the industry funding mechanism for financial counselling described in the Review. The submission also recommends that the government introduce the National Consumer Credit Protection Amendment (Small Amount Credit Contract and Consumer Lease Reforms) Bill and regulate debt management companies. All of these recommendations would help prevent financial stress and harm and are vital components of a financial recovery package.