Save safe lending: Stop the #DebtDisaster
Thousands of Australians have just signed our open letter calling on the government to save the safe lending laws that protect people from exploitative lending. Now it’s time to make sure federal senators – the politicians with the power to stop these dangerous changes – hear from you.
Use the form on this page to send an email to the senators who represent your state or territory telling them you support safe lending laws. (Unfortunately you can’t edit this form right now. If you’d like to send a personalised email, you can do this directly from your email).
In the midst of one of the worst recessions in Australia’s history, the government plans to axe safe lending laws. This will be bad for people and bad for the economy. Worse still, the plans go against the very first recommendation of the banking royal commission. It called for safe lending laws to be enforced, not dismantled.
The royal commission uncovered shocking cases of banks giving aged pensioners 30-year mortgages, relying on fraudulent loan documents provided by car dealers, and paying thousands in kickbacks to loan ‘introducers’. We’ll see even more of this if banks and other lenders are not legally required to take care when lending.
Today’s open letter is making media headlines thanks to people like you. Now, let’s make sure it’s on the radar of all federal senators.