All posts tagged "National Credit Act"
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196Australia & NZAustralia: Members Equity Bank Facing 62 Criminal Charges
ASIC says ME Bank made false or misleading representations about interest rates and repayment amounts to home loan clients.
September 15, 2021 -
142Australia & NZASIC Sues Credit Firms for Failing to Cooperate with AFCA
Two firms repeatedly engaged in disruptive, aggressive and uncooperative behaviour toward AFCA, a civil penalty offence since April 2019.
August 6, 2021 -
113Australia & NZASIC Appeals Dismissal of Cigno, BHF Solutions Case
ASIC’s appeal seeks judicial clarification on the operation of key obligations under the National Credit Act and National Credit Code.
July 28, 2021 -
121Australia & NZ
Australia Commences New Debt Management Licensing Regime
Providers of debt management services including debt negotiation or credit repair services must obtain a credit licence to continue operating.
July 8, 2021 -
567Australia & NZ
Australia to Require Debt Management Firms to Be Licensed
Firms providing debt management services need to apply to ASIC for a credit licence and become a member of AFCA by 30 June 2021.
May 10, 2021 -
907Australia & NZCBA to Pay Penalty for Increasing Problem Gambler’s Credit Limit
ASIC launched civil proceedings against CBA in March alleging that the bank failed to take account of a notification by a customer that he was a problem gambler.
November 2, 2020 -
630Australia & NZAustralian Court Orders Penalty Against NAB Over Introducer Programme
The penalty was discounted due to NAB’s cooperation with ASIC and its admissions that it contravened the law by using unlicenced home loan referrers.
October 20, 2020 -
485Australia & NZ
ASIC Commences Proceedings Against Cigno, BHF Solutions
Both companies have been providing credit to a large number of consumers and charging "substantial fees", without holding an Australian credit licence.
October 1, 2020 -
552Australia & NZ
ASIC to Seek Reforms to Responsible Lending Laws
ASIC has decided not to appeal the dismissal of its responsible lending case against Westpac; instead it will review its existing guidance and recommend legislative reforms.
July 23, 2020 -
2.9KAustralia & NZASIC’s Loss to Westpac is Terrible for Everyone
Despite its recent Federal Court loss, ASIC was right to appeal the dismissal of its responsible lending case against Westpac, says bank conduct specialist Dr Andy Schmulow.
July 11, 2020
