National Consumer Credit Protection Amendment (Small Amount Credit Contract and Consumer Lease Reforms) Bill 2019
The National Consumer Credit Protection Amendment (Small Amount Credit Contract and Consumer Lease Reforms) Bill 2019 provide important safeguards that protect consumers against unfair credit practices that have persisted in the fringe finance industry by consumer lease providers and Small Amount Credit Contracts. This submission outlines why these reforms are crucial for people living with disadvantage and provides feedback on how to strengthen key provisions to ensure vulnerable consumers benefit from the full protection of the law.