Financial Sector Reform Bill 

The St Vincent de Paul Society National Council of Australia supports legislative reforms for Small Amount Credit Contracts and consumer leases, urging swift passage without amendments.

The submission highlights the exploitation of vulnerable Australians through aggressive marketing and misleading practices, and recommends specific provisions in the Bill, including caps on earnings and lease costs, and bans on unsolicited offers and referrals to unlicensed lenders.

The Society believes that all Australians, especially those facing financial difficulties, deserve respect and dignity through regulation of these financial products.