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Showing 1 - 6 of 6 results for "National Credit Code"

ASIC extends intervention orders against predatory lenders

CHLOE WALKER  |  MONDAY, 8 JAN 2024
... credit contracts that involve unreasonably high fees," ASIC said. "These exceeded the cost caps imposed by the National Credit Code." As a result, these orders have been effective in reducing the risk of significant harm resulting from these types of ...

Financial hardship neglect lands Westpac in court

KARREN VERGARA  |  TUESDAY, 5 SEP 2023
... collectors while customers waited for the bank to respond to their hardship notices, ASIC alleges. Under the National Credit Code, a lender has 21 days to notify the customer if it does not agree to change the contract or if it requires further information ...

ME Bank faces criminal charges

ELIZABETH MCARTHUR  |  WEDNESDAY, 15 SEP 2021
... Bank for alleged contraventions of the Australian Securities and Investments Commission Act 2001 (Cth) and National Credit Code. The alleged contraventions concern home loan customer communications over a two year period ending September 2018. These ...

Criminal charges filed against ME Bank

JAMIE WILLIAMSON, KANIKA SOOD  |  THURSDAY, 27 MAY 2021
... to contraventions of sections 12DB(1)(g) and 12GB(1) of the ASIC Act and sections 64(1) and 65(1) of the National Credit Code (Cth). Section 12DB(1)(g) relates to making false or misleading representations with respect to the price of services, while ...

Westpac to review business units

JAMIE WILLIAMSON  |  MONDAY, 4 MAY 2020
... 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 informed of certain corporate ...

Govt aids anti-predatory lending laws

GOVT ANNOUNCEMENT  |  MONDAY, 17 AUG 2009
... categories still have until 1 January 2011 to switch from complying to state-based credit laws to the proposed National Credit Code. The Government also announced other timetable changes including an additional six-month extension for all credit providers ...
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