Jenny McAllister (NSW, Australian Labor Party, Shadow Assistant Minister for Families and Communities) Share this | Hansard source

I move:

That the following matter be referred to the Economics References Committee for inquiry and report by 22 February 2019:

Credit and financial services targeted at Australians at risk of financial hardship, with particular reference to:

(a) the impact on individuals, communities, and the broader financial system of the operations of:

  (i) payday lenders and consumer lease providers,

  (ii) unlicensed financial service providers including "buy now, pay later" providers and short-term credit providers, and

  (iii) debt management firms, debt negotiators, credit repair agencies and personal budgeting services;

(b) whether current regulation of these service providers meets community standards and expectations and whether reform is needed to address harm being caused to consumers;

(c) the present capacity and capability of the financial counselling sector to provide financial counselling services to financially stressed and distressed members of the community; and

(d) any other matters.