Responsible Lending Laws Threatened with the Axe
Yesterday, the Federal Government proposed legislation that threatens to axe responsible lending laws. This would make it easier for banks and lenders to offer quicker and larger loans. That’s a risk of higher debt.
With Australia still in recession and house prices rising, many have seen household debt as a big risk to the economy. We spoke to Consumer Action Law Centre’s Campaigns and Advocacy Advisor, Alycia Gawthorne, for more.