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

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

CCLSWA is proud to be a signatory to the joint submission drafted by the Consumer Action Law Centre in February 2021. The submission rejects the Government’s proposals to roll back responsible lending laws in the National Consumer Credit Protection Amendment (Supporting Economic Recovery) Bill 2020 (‘the Bill’).

In this joint submission to the Senate Economics Legislation Committee’s inquiry, we join advocates across the Save Safe Lending campaign to recommend Parliament reject this Bill due to the disastrous effects removing responsible lending protections will have on consumers and the community.

The Bill also proposes to change the laws on small amount credit contracts (SACCs) and consumer leases – however, these proposed changes fail to properly implement the vital reforms that consumer groups have advocated for many years.

This submission voices our deep concerns about the Bill removing important protections for borrowers, and the harm that the Bill will cause, particularly to vulnerable people in Australia.

To view the full joint submission, click here.

 

 

Michael Duncan