In 2019, the Australian Banking Royal Commission acted on the growing complaints against car dealers who sign up customers for loans they can’t afford to pay. In his final report, Royal Commissioner, the Hon Kenneth Hayne AC QC, who led the year-long probe of the faulty financial service practices, recommended the abolition of the Point of Sale (POS) Exemption. Consumer advocates welcomed the Royal Commissioner’s report exposing the predatory selling practice. Many believe the POS exemption was a “loophole” that has allowed not a few car dealers to offer auto loans even without proper assessment of the customer’s financial capability. …
Month: March 2021
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- The Effects of Volatile Forex Rates to the Fashion IndustrySterling plummeted to some 31-year low from the times following the UK voted June 23 to depart the European Union. Its worth had shrunk marginally to $1.20 and $1.34 now, after news that the former home secretary Theresa May will substitute David Cameron as prime minister. “It is hard to forecast exactly what the […]
- IRS Warns of New Phishing Scam Targeting Taxpayers with Claims for Tax RefundsLast week, the IRS warns about a phishing scam that has been on college students and staff of educational institutions expecting to receive pending tax refunds, The warning was published last week after the tax agency received reports that government’s phishing@irs.gov email received numerous complaints related to impersonation scams that have been generally targeting persons […]
