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Showing 1 - 10 of 13 results for "National Consumer Credit Protection Act 2009"

ASIC permanently bans convicted investment manager

MATTHEW WAI  |  TUESDAY, 2 SEP 2025
ASIC has permanently banned former investment manager and director Brett Paul Trevillian for fabricating investment reports of his trading strategy 'The Gold Method'. Trevillian, who has been serving a three-year sentence by way of an intensive ...

ANZ hit with $15m penalty for misleading customers

ANDREW MCKEAN  |  TUESDAY, 26 SEP 2023
ANZ Bank has been ordered to pay $15 million by the Federal Court for misleading customers over the funds available to them in select credit card accounts. The Court found that ANZ breached both the ASIC and the National Consumer Credit Protection Act  ...

Court fines ANZ for dodgy introducer program

KARREN VERGARA  |  MONDAY, 13 MAR 2023
ANZ has copped a $10 million penalty for its home loan referral program that breached consumer credit protection laws. The Federal Court found that the bank's Home Loan Introducer Program enabled unlicensed third parties to refer customers to ANZ for ...

ASIC cancels AFSLs

ANNABELLE DICKSON  |  TUESDAY, 25 MAY 2021
The corporate regulator has cancelled the Australian financial services licences (AFSL) of two providers for failing to lodge audited financial accounts and failing to maintain an AFCA membership. Victorian-based financial services provider and mortgage ...

Responsible lending laws to be revoked

ANNABELLE DICKSON  |  FRIDAY, 25 SEP 2020
The government has announced a raft of reforms to reduce barriers to Australia's credit framework as a means to boost the economy. The reforms will remove the responsible lending obligations from the National Consumer Credit Protection Act 2009 aiming ...

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
Westpac has determined several of its business units lack sufficient scale, including superannuation and investments, and is set to launch a review aimed at simplifying the group. Announcing results today, Westpac said it is establishing a new specialist ...

CBA in court over RC case studies

ELIZABETH MCARTHUR  |  MONDAY, 16 MAR 2020
ASIC has commenced proceedings against Commonwealth Bank over the AgriAdvantage Plus Package and credit services provided to problem gamblers. Both cases were Royal Commission case studies and are being pursued by the regulator in the Federal Court. ...

Court dismisses Westpac lending practice case

KARREN VERGARA  |  THURSDAY, 15 AUG 2019
The Federal Court has dismissed ASIC's case against Westpac, alleging it breached responsible lending practices for home loans. ASIC alleged that between December 2011 and March 2015, the bank failed to properly assess whether borrowers could meet repayment ...

ASIC successfully files injunction against Melbourne advice provider

JAMIE WILLIAMSON  |  MONDAY, 15 JAN 2018
A Melbourne financial services firm is prohibited from operating while proceedings brought by ASIC continue in the Federal Court. ASIC commenced proceedings against Financial Circle Pty Ltd in December 2017, alleging the business was offering loans ...
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