Dave chats with Alan Kirkland, CEO of CHOICE who explains 125 organisations are joining together to oppose Government’s plan to axe safe lending laws

 

Axing safe lending laws will be bad for people, bad for the economy and directly contradict the first recommendation of the banking royal commission, say leading voices across Australia

 

Speaking with one voice, Australia’s leading consumer advocacy organisations, charities, community, legal and family violence organisations, unions and financial counsellors have condemned the government’s plans to axe safe lending laws.

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In a national open letter launched today, 125 organisations and 97 prominent Australians are urging Senators to block proposed weakening of safe lending laws which protect consumers from aggressive lending by financial institutions. Supporters of the open letter include ACTU, ACOSS, Anglicare, and a range of religious, community, legal and family violence organisations from across Australia.

 

The Open Letter is also supported by new national polling that shows that Australians expect lenders to check if credit is unaffordable. 79% of people think that banks should be required to always check a customer’s ability to repay before offering a mortgage (only 4% disagree).[1]

 

See the open letter: choice.com.au/safelending

Read more about the campaign at debtdisaster.com.au