The Government has announced major reforms to the National Consumer Credit regime including the scrapping of RLOs.
Bennett & Philp Lawyers
This power allows ASIC to intervene, ban or set restrictions on financial and credit products for consumer protection.
Carroll & O'Dea
ASIC recently set out guidelines to how Retail Lenders should deal with consumers regarding loan repayment deferrals.
Logie Smith Lanyon
RG 273 will assist mortgage brokers and credit licensees to understand the new codified 'best interests obligations'.
The ACCC provides guidance for consumers on what circumstances it expects businesses to give a refund and/or credit note.
Until the threats of COVID-19 pass, we are unlikely to have insight into AFCA's "proposed framework and fairness tool".
Corrs Chambers Westgarth
Access to large consumer data sets is driving new ways of doing business for traditional banks and fintech startups.
McCarthy Tétrault LLP
On April 8, 2020, the US Federal Trade Commission ("FTC") published a business blog, titled "Using Artificial Intelligence and Algorithms" (the "FTC Blog").
Global Advertising Lawyers Alliance (GALA)
The National Council of the Slovak Republic has approved in the first reading a new act that defines new obligations on the advertisement of consumer credits, loans, and mortgages.
The EU's new Credit Servicers Directive is well on its way to becoming a reality. As part of the process, the European Parliament's ECON committee recently published two reports...
The Central Bank of Ireland (CBI) has introduced The Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Licensed Moneylenders) Regulations 2020 (the Regulations). The Regulations which are applicable...
Ronan Daly Jermyn
As the tracker mortgage review continues to develop, it is becoming increasingly common for defendants in summary judgment and/or repossession proceedings to allege that the loan
Vorige week publiceerde minister van Financiën, Hoekstra, de door de AFM en DNB ingezonden wensen voor de wet- en regelgeving kalender 2020 alsmede zijn initiële reactie daarop.
All lenders of consumer credit in New Zealand need to review and update documentation and procedures by 1 June 2020.
The National Credit Act No. 34 of 2005 ("the NCA" or "Act") has had a significant impact on transactions involving deferred payment and interest in South Africa.
Below is a copy of the article with originally appeared in the April 2019 edition of the official South African attorneys' journal De Rebus.
A recent judgment in the Western Cape High Court deals with the limitation on collection costs that a debtor can be charged in terms of a credit agreement under the National Credit Act.
Marti & Associats
The Supreme Court has issued a ruling indicating that interest rates which are higher than 20% for deferred payment on revolving credit cards constitutes usury.
As England moved into a second Covid-19 lockdown, the Financial Conduct Authority (FCA) announced further proposals to support consumer credit and mortgage ...
Further to our recent briefing (see here) the Government has now published the new content requirements for Default Notices served on borrowers that breach Consumer Credit Act 1974 (CCA) regulated loan agreements.