Determination 15 December 2014

Key issues: Credit | Mortgage broker | Responsible lending | Unsuitable credit contract | Affordability  

Summary of Determination

  1. I find that:
    1. the loans that the FSP arranged for the consumer are credit contracts to which the National Credit Code1 (NCC) applies;
    2. in providing credit assistance to the consumer in relation to those credit contracts, the FSP contravened its responsible lending conduct obligations under the National Consumer Credit Protection Act 2009 (Cth) (NCCPA); and
    3. the FSP unfairly harassed the consumer by continuing with debt collections activity after the consumer had engaged a legal representative to advocate on her behalf and after complaints had been lodged about the FSP’s conduct.
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