Debt collection activity is expected to rise significantly in 2021, as financial hardship becomes more prevalent due to the economic impact of the COVID-19 pandemic. Consumer advocates have warned of an impending “avalanche in debt collection” and have called for better enforcement of laws...

High levels of personal debt and the rising cost of living have increased the likelihood of Australian consumers engaging with businesses that promise to resolve their debt problems. Such businesses have been highlighted for the risks they pose to consumers, charging fees for services that are...

In Singapore, Hong Kong, and Australia, standard retail investor protection laws do not apply to special categories of individual investors. Issuers and intermediaries can avoid preparing a prospectus and assessing the suitability of a financial product or investment when financial advice is...

Consumer leases are regulated in Australia separately from credit contracts. This has created opportunities for regulatory arbitrage and has resulted in significant harm to consumers. Recent reforms, which commenced on 1 March 2013, have addressed this problem by applying to consumer leases many...

This research report is part of a project, funded by the Australian Research Council, which will contribute to a broader understanding of the role of financial literacy and consumer behaviour in Australia. The research report explores the causes of financial behaviour and considers whether...

Consumer leases offer low-income consumers the option to hire household items that they do not have the money to purchase upfront. They are marketed by consumer lease providers as a cheap way to purchase important household items. However, recent studies illustrate that the price ultimately paid...

In 2014, a group of researchers at Melbourne Law School commenced a major empirical research project, focussing on Australia's personal insolvency laws and their practical impact on people in financial distress. As part of the project, in early 2015, the research team conducted a national online...

In 2019, the Australian Government invested the Australian Securities and Investments Commission with a new Product Intervention Power, enabling it to intervene directly in the market for financial products to reduce the risk of consumer harm. ASIC made its first Product Intervention Order in...

Although young Australians are active consumers there is little evidence about their knowledge of consumer rights. The authors report the results of a survey of 207 Australian school students aged 16-17 aimed at ascertaining their knowledge of consumer rights. Focus group interviews were also...

Payday loans, consumer leases and, increasingly, buy-now-pay-later (BNPL) products occupy a central place in Australian consumer law and policy debates. These products have all been identified by consumer advocates as a source of financial stress. Credit cards typically receive far less...