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 Relationship between Finance, Politics, and Crypto ExchangesCrypto exchanges are becoming an increasingly important part of the financial landscape. With the rise of cryptocurrencies and blockchain technology, these exchanges are providing a platform for individuals and businesses to trade and invest in digital assets. However, the world of crypto exchanges is far from simple, and it’s important to understand the interplay […]
- Actions To Manage Tow Business FinancesRunning a small business can be challenging. With the need to supervise staff, deliver products and services, and promote the business, it can seem like there are a lot of tasks that you need to accomplish at the same time. Managing finances is crucial. However, this is an often overlooked aspect of running a small […]
