Joint Submission to the Senate Inquiry on the National Consumer Credit Protection Amendment (Supporting Economic Recovery) Bill 2020

Joint Submission to the Senate Inquiry on the National Consumer Credit Protection Amendment (Supporting Economic Recovery) Bill 2020

CCLSWA is proud to be a member of the Stop the Debt Trap Alliance, a coalition of consumer advocacy organisations from around Australia, including financial experts, community advocates and service providers.

CCLSWA signed on to the Alliance’s submission to the Senate Economics Legislation Committee, in relation to the National Consumer Credit Protection Amendment (Supporting Economic Recovery) Bill 2020 (‘The Bill’).

The Alliance rejects the Bill outright, as the Bill fails to properly implement the important reforms recommended by the independent review of SACCs and consumer leases from 2016. The Alliance has deep concerns that the Bill will fail to reduce the harm caused by irresponsible payday lenders and consumer lease providers.

The Alliance calls on the Senate Committee to reject the Bill and recommends that Parliament votes against the Bill in its entirety.

To view the Stop the Debt Trap Alliance’s submission, click here.

 

 

 

Michael Duncan