Australia: Licencing Regime for Debt Management Firms Wins Support – Regulation Asia

The ABA suggests that ASIC be charged with supervising fee structures of debt management firms to further protect consumers, among other recommendations. Australias government is receiving industry support for a proposal to introduce a licencing regime for debt management firms. The government released a consultation paper in January proposing to protect consumers from the often…

EU supports more funds for IMF, extension of debt relief for poor countries – Reuters

By Reuters Staff 2 Min Read BRUSSELS, Feb 16 (Reuters) – European Union finance ministers on Tuesday backed the idea of boosting IMF funding and extending debt relief for the poorest countries to help the global fight against the COVID-19 crisis. The idea of increasing the International Monetary Funds resources, called Special Drawing Rights (SDRs),…

Stronger regulation needed for debt management firms – Mirage News

The Australian Banking Association supports the Federal Governments proposed licencing regime for debt management firms and has called for further changes to protect consumers. Debt management and credit repair services are targeted at Australians at risk of financial vulnerability and can exacerbate or even cause financial hardship. There is a clear benefit to the community…

First-generation college graduates navigate mountain of student loan debt – Minnesota Public Radio News

Kari Boudreau did everything by the book when it came to her student loans. She still couldnt stay ahead of her debt. A self-proclaimed rule follower, Boudreau was the first in her working-class Northfield, Minn., family to go to college, earning a degree from Iowa State University that led to her buildinga successful chiropractic business.…