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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- Overview of How the “Pandora Papers” Exposed the Dark Side of Offshore InvestmentsCurrently, there’s a growing clamor to put an end to the financial secrecy that enables many prominent personalities to hide their wealth from tax authorities. The outcry is a result of the report released last October 03, 2021 (Sunday) by the International Consortium of Investigative Journalists (ICIJ) that exposed how the world’s richest people, prominent […]
- Banking and Finance LawCash drives the world as we know it These days cash is considerably more than simply a method for installment. Control, force, and glory are just a piece of the achievements accomplished thereby. As ahead of schedule as the fourteenth century, rich families and banks acquired colossal political impact because of their moneylending organizations. Indeed, […]
