Misguided Media Comments About True Effect Of Review Recommendations

Nov 30 2016

Misguided Media Comments About True Effect Of Review Recommendation

CEO, Phil Johns, has expressed disappointment at how the media has failed to grasp the real probable outcome of lenders implementing recent recommendations from the Legsilative Review Panel.

Several publications (see links below) have declared that consumers will be the winners if the recommendations are incorporated into current small loans legislation (NCCP Act). 

While on the surface this may appear to be true, the restrictions imposed upon the ASIC licensed lenders supplying SACC loans means that, in all likelihood, SACC loans will no longer be offered to consumers leaving them unable to source this safe form of credit which carries considerable consumer protections.

CLICK HERE to read the full response by NCPA to the announcement of these recommendations.

 

Here are some of the media articles which have commented on the recently released recommendations by the legislative Review Panel:

Sydney Morning Herald

ABC

The Australian

Finder.com.au