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. …
Category: Credit and Financing
Microcredit Gives Opportunities For Start-up Businesses
Microcredits are classic loans, but with a very small loan amount of up to usually 1,000 euros. Micro, mini or small loans are used particularly in development aid and play a crucial role there. This type of loan is suitable for anyone who quickly needs a relatively small loan with a very short term. It is usually cheaper than an overdraft facility. In many developing and emerging countries around the world, microcredit is more than just a small loan. It can effectively help secure people’s livelihoods and give them the opportunity to start their own business. In order to distinguish …
Save And Invest With Your Insurer
Savers and investors do not always have to go to their banks for savings or investment products. There are also insurers in the shop window. “Life insurance is widespread,” says lawyer Nathalie Labeeuw (Cazimir). ‘Almost everyone I know has a life insurance policy in portfolio. But often they are not aware of this themselves. They have an investment portfolio that they do not know is packed in a life insurance policy. “ Insurance For The Purpose Of Savings For investors with a lot of patience Savings insurance has long been one of the most popular savings products. But due to …
Feed
- How to Legally Protect Your Business During a Financial CrisisA financial crisis—whether triggered by a recession, market downturn, or global event—can shake any business to its core. While focusing solely on cash flow and cost-cutting is tempting, legal protection is just as crucial. You could face lawsuits, penalties, or regulatory issues without proper precautions. Working with experienced attorneys in Orlando, Florida can help ensure […]
- How Politics is Shaping the Global EconomyPolitical Decisions Impact Financial Markets Political decisions have a significant effect on the global economy. From changes in trade policies to government regulations, political shifts can drive economic growth or cause stagnation. The Role of Trade Policies Trade policies have become a hot topic in recent years. Governments are increasingly focused on securing advantageous trade […]
