Australia’s household debt is among the world’s highest, and according to the Australian Securities and Investments Commission (ASIC) we owe more than $30 billion on our credit cards alone.
Today, the Australian Bankers Association (ABA) outlined its strengthened code of conduct, and there’s a big focus on credit cards, including proposed changes to unsolicited credit card increase offers.
But the question is, will these changes have any impact on ballooning household debt?
What is the ABA suggesting?
It’s no secret that banks with a series of scandals in recent years are on the nose with consumers, and that helped prompt the upcoming royal commission into…
Read the full article at: http://www.abc.net.au/news/2017-12-20/will-the-new-credit-card-rules-have-any-impact-on-our-debt/9275178
