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Showing 11 - 20 of 27 results for %22National Consumer Credit Protection Act%22

ASIC will not appeal wagyu and shiraz decision

ANNABELLE DICKSON  |  THURSDAY, 23 JUL 2020
... what implications the Federal Court decision has for that guidance. "Any reform of the National Consumer Credit Protection Act (National Credit Act) to clarify further the enforcement of those principles is ultimately a matter for the Federal Government ...

Westpac to review business units

JAMIE WILLIAMSON  |  MONDAY, 4 MAY 2020
... provided with business loans where they should have been provided with loans protected by the National Consumer Credit Protection Act and the National Credit Code, and the estimated compensation for customer's on the group's platforms that weren't ...

CBA in court over RC case studies

ELIZABETH MCARTHUR  |  MONDAY, 16 MAR 2020
... Federal Court. ASIC alleges CBA contravened the responsible lending provisions of the National Consumer Credit Protection Act 2009 (National Credit Act) when it lent to a customer, David Harris, who had notified the bank he was a problem gambler. The ...

Calls for review of advice regulation

HARRISON WORLEY  |  THURSDAY, 6 FEB 2020
... were required to comply with, including the Corporations Act, Tax Agent Services Act, National Consumer Credit Protection Act, and other obligations imposed under the ASIC Act and FASEA to name a few. "Often there is no harmonisation between these regulatory ...

NAB faces half a billion in fines

ELIZA BAVIN  |  WEDNESDAY, 13 NOV 2019
National Australia Bank has admitted to breaching credit legislation 255 times over its axed introducer program for mortgages. NAB has filed documents in the Federal Court admitting to 255 of the 295 breaches of the Consumer Credit Protection Act alleged ...

Court dismisses Westpac lending practice case

KARREN VERGARA  |  THURSDAY, 15 AUG 2019
... a lender "may do what it wants in the assessment process" and other provisions of the National Consumer Credit Protection Act 2009 impose penalties if lenders make unsuitable loans as a result of that process. Under the Act, lenders must assess whether ...

Fintech no real threat: Researcher

ELIZABETH MCARTHUR  |  TUESDAY, 21 MAY 2019
... are similar to traditional personal finance in concept, they are not subject to ASIC's National Consumer Credit Protection Act. This has helped these businesses grow rapidly, Moody's said. Loans to small businesses have also become a key focus for fintechs ...

Productivity Commission proposes more changes to financial advice

KARREN VERGARA  |  MONDAY, 6 AUG 2018
... adviser under the Corporations Act as well as hold an Australian credit licence (under the National Consumer Credit Protection Act) to be able to provide specific advice on credit products. Only 4% of AFSLs hold a credit licence. In terms of remuneration ...

ASIC accepts EU from Brisbane adviser

KARREN VERGARA  |  FRIDAY, 19 JAN 2018
... not meeting his life insurance replacement advice obligations. ASIC found Duane Wright, owner of Brisbane-based First National Home Loans and Insurance, breached obligations when he worked for GuardianFP between July 2012 and April 2016. Wright currently ...

ASIC successfully files injunction against Melbourne advice provider

JAMIE WILLIAMSON  |  MONDAY, 15 JAN 2018
... unconscionable, alleging Financial Circle Pty Ltd breached the Corporations Act 2001, the National Consumer Credit Protection Act 2009 and the Australian Securities and Investments Commission Act 2001, including breaches of the best interests duty and ...