5 years ago
STILL NO EXCUSE TO DELAY PAY DAY LENDING REFORM
MADELEINE KING MP
The Senate Committee’s report into Credit and financial services targeted at Australians at risk of financial urges the government to end years of inaction and legislate pivotal reforms to pay day lending practices, to protect Australian consumers. .
Labor knows that many working Australians have been devastated by banks and financial institutions, which is why we called for a Royal Commission into the banking sector, and why we initiated this senate inquiry.
Last week I introduced the Small Amounts Credit Contract reform legislation drafted by the government itself, but which has seen delay after delay due to Liberal infighting and leadership instability.
Assistant Treasurer Stuart Robert assured Labor last year - in writing - that he would delay any action on pay day lending reform until the release of Commissioner Hayne’s final report.
Well, the Royal Commission report is out.
The Senate inquiry report is out.
There’s no more excuses.
Try looking after vulnerable consumers rather than your chums in the banking and finance industry.
Your move Stuart Robert.
Labor knows that many working Australians have been devastated by banks and financial institutions, which is why we called for a Royal Commission into the banking sector, and why we initiated this senate inquiry.
Last week I introduced the Small Amounts Credit Contract reform legislation drafted by the government itself, but which has seen delay after delay due to Liberal infighting and leadership instability.
Assistant Treasurer Stuart Robert assured Labor last year - in writing - that he would delay any action on pay day lending reform until the release of Commissioner Hayne’s final report.
Well, the Royal Commission report is out.
The Senate inquiry report is out.
There’s no more excuses.
Try looking after vulnerable consumers rather than your chums in the banking and finance industry.
Your move Stuart Robert.