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Financial counselling peak bodies endorse Uluru Statement

The peak bodies in the financial counselling sector are proud to announce their support for the Uluru Statement from the Heart. The Statement calls for a constitutionally enshrined First Nations Voice to Parliament, a Makarrata Commission to supervise a process of agreement-making between First Nations people and governments, and truth-telling…

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Consumer groups applaud Federal Court ruling to uphold ASIC intervention in short-term credit market

Today’s Full Federal Court decision to dismiss an application by Cigno Pty Ltd (Cigno), seeking to quash the Australian Securities and Investments Commission’s (ASIC) product intervention order to reign in short-term credit fees and charges, has been applauded by consumer advocates. ASIC’s product intervention order halted a regulatory avoidance model involving Cigno that saw significant fees and charges added to ‘collateral contracts’ with consumers. This model…

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Court decision on Cigno lending model ‘extremely disappointing’

Today’s Federal Court decision that the lending model promoted by Cigno Pty Ltd did not breach the National Consumer Credit Protection Act (National Credit Act) is extremely  disappointing, and consumer advocates have urged the Australian Securities and Investments Commission (ASIC) to appeal the decision. Over recent years, community lawyers and financial counsellors have been inundated with…

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Financial counselling for Victorian small business during lockdown

Small businesses affected by current lockdown measures in Victoria can access free help from small business financial counsellors. Specialist small business financial counsellors help people to understand business debts and the implications of personal guarantees, as well as connect business owners with supports and grants that may be available. They…

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