ASIC aims to provide clarity on credit with responsible lending update
The corporate watchdog has attempted to put to bed finance sector claims that responsible lending rules are too ambiguous and are choking off access to credit, releasing new guidance explaining the consumer protection law.
After a lengthy review, the Australian Securities and Investments Commission (ASIC) on Monday released a 96-page document setting out updated guidance for responsible lending laws, which are intended to stop consumers from taking on “unsuitable” debts.
Read more at The Age.
