An Australian debt relief charity has joined 124 other organisations, urging senators to block the proposed termination of safe lending laws.
Christians Against Poverty (CAP) – a charity that partners with local churches to provide debt counselling and budgeting services – wants to help protect people from exploitative lending by banks and other lenders.
CAP Australia CEO Rosie Kendall has told My Christian Daily, CAP has a “duty of care” to protect the vulnerable, as it focuses on Christ’s mandate to care for the poor.
A national open letter, organised by Australian consumer advocacy group CHOICE, argues that if the laws are scrapped the consequences could lead to a “debt disaster”.
The letter says the proposed change would directly contradict the very first recommendation of Australia’s recent banking royal commission.
It is also supported by new national polling that shows that Australians expect lenders to check if credit is unaffordable.