Some borrowers have been abandoned in a cost-of-living crisis and lenders must meet their obligations, the regulator says
Asic has warned too many borrowers in financial hardship are finding it hard to get help from their lenders and called for ‘meaningful improvement’.Asic has warned too many borrowers in financial hardship are finding it hard to get help from their lenders and called for ‘meaningful improvement’.
Rather than being assisted via hardship arrangements, he was repeatedly transferred to the lender’s collections team. On one occasion, the customer was told to visit a branch, but when he got there, he was told he needed to call. “Too many Australians in financial hardship are finding it hard to get help from their lenders and it’s time for meaningful improvement.”
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