The debt management and credit repair sector is being probed following concerns that some may be operating dishonestly or unfairly, potentially leaving financially vulnerable consumers in a worse position.
The Australian Securities & Investments Commission (ASIC) has announced it is reviewing the debt management and credit repair sector following concerns that some may have failed consumers.
As part of its continued focus on protecting consumers, particularly those experiencing financial hardship, the financial services regulator will now review how the sector, which is made up of around 100 credit licensees, complies with the law.
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