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Search ResultsShowing 1 - 10 of 11 results for "National Consumer Credit Protection Act"
Westpac to review business units
JAMIE WILLIAMSON  |  MONDAY, 4 MAY 2020
... 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 ...
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 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 ...
Finance broker gets 6 month ban
STAFF WRITERS  |  WEDNESDAY, 16 OCT 2013
... surveillance found Mr Dryden, who had been trading as 'Gryphon Financial' had contravened the National Consumer Credit Protection Act 2009 (Cth) (National Credit Act). He did this by failing to lodge an annual compliance certificate within 45 days after ...
ASIC takes action against diamond trading scheme
LAURA MILLAN  |  WEDNESDAY, 7 AUG 2013
... contracts were designed to camouflage what, in reality, were loan transactions to which the National Consumer Credit Protection Act 2009 (National Credit Act) applied. The diamond contracts were devised with the intention of avoiding consumer credit ...
Former mortgage broker convicted
MARK STORY  |  FRIDAY, 25 JAN 2013
A former NSW-based mortgage broker was yesterday convicted of 10 offences under the National Consumer Credit Protection Act 2009 (National Credit Act). In September 2012 Daniel Nguyen, of Panania, pleaded guilty to 10 offences including providing false ...
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