The ABA has welcomed the Federal Treasurers release of new regulations that licence debt management firms on 30 April 2021, a change called for by the ABA.
ABA CEO Anna Bligh said, together with changes made last year by the banking sector, these new regulations would will strengthen protections for customers.
I welcome these changes from Treasurer Josh Frydenberg and believe theyre a necessary protection for customers and an important step for the industry, said Ms Bligh.
Its vital that consumers dont become victims of predatory credit practices in the debt management industry. These new regulations and stronger compliance measures will help prevent Australians from being ripped off.
When calling for these changes, the ABA noted th…
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