FOI Documents Released on Small Amount Credit Contracts Review
Summary
This article covers a Freedom of Information (FOI) request to the Minister for Small Business and Assistant Treasurer regarding the Small Amount Credit Contracts (SACC) Review. The documents sought relate to the protected earnings amount and default fees in small amount credit contracts, which are typically short-term, high-cost loans (often referred to as payday loans). The review examines regulatory settings around consumer protections, including limits on how much of a borrower's income can be taken and what fees can be charged for defaults.
Source
bskyFOI Documents Released on Small Amount Credit Contracts Reviewtreasury.gov.auKey quotes
· 3 pulledDocuments relating to the protected earnings amount and default fees in the Small Amount Credit Contracts Review were released under a Freedom of Information request.
The review examines regulatory settings around consumer protections for small amount credit contracts.
The documents were requested from the Minister for Small Business and Assistant Treasurer.
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