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“The future of safe lending is in your hands” – Financial counsellors plead with Senate cross bench to block government plan to axe laws

Australia’s financial counsellors are pleading with crossbench Senators to block the Federal Government’s bill to axe responsible lending laws. The bill will amend the National Consumer Credit Protection Act 2009 by removing responsible lending obligations for lenders, with the exception of small amount credit contracts (SACCs) and consumer leases.

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Survey predicts dire consequences if safe lending laws are axed

A survey of Australia’s financial counsellors shows an overwhelming majority believe responsible lending laws should remain to prevent devastating consequences to people and the economy. The “Save Safe Lending” survey was conducted by Financial Counselling Australia (FCA) after the Federal Government announced plans to amend the National Consumer Credit Protection…

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Financial counsellors welcome today’s announcement of court proceedings concerning unconscionable conduct by Telstra against Indigenous customers

Financial counsellors around Australia welcome today’s announcement by the ACCC that Telstra and the ACCC will be asking the Federal Court to impose a penalty of $50 million on the telco. The penalty relates to unconscionable conduct in its’ dealings with 108 Indigenous customers. Telstra has admitted it breached consumer law…

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Financial counsellors welcome Government’s commitment to a more secure and coordinated future for the sector

Financial Counselling Australia has welcomed the Federal Government’s response to last year’s review of the coordination and funding for financial counselling services across Australia. The review, called the Countervailing Power: Review of the coordination and funding for financial counselling services across Australia, made a series of recommendations to ensure the…

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