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Tell Senators to defend responsible lending protections



The Senators who represent you can stop this irresponsible lending plan. Write to them using our pre-filled letter below.

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Keep banks honest: Don't wind back consumer protections

In the midst of one of the worst recessions in Australia’s history, the government has just announced plans to wind back crucial responsible lending laws that protect people from exploitative lending by banks. 

Banks are multi-billion dollar institutions and know more about your spending habits and what loans carry more risk than any individual could. It is only right that banks have to carry some responsibility when they lend. Without consumer protections, banks have every interest in getting people to borrow more, pay more interest and pay more fees. 

This is one of the biggest attacks on consumer protections we’ve ever faced, but this law will need a Senate vote to pass. That means right now is a crucial opportunity for you to tell the Senators who represent you that they should support strong and common-sense laws that protect people from predatory lending. 


The Global Financial Crisis revealed shocking scandals where banks irresponsibly lent people loans they knew they could never afford. In 2009, the Federal Government passed important responsible lending laws that required banks to ensure that people will not end up in significant hardship from a loan. This places some of the onus on the banks to ensure that people are not being sold into unaffordable loans. 

The government is proposing to wind back responsible lending laws. This means that people will have much weaker protections and banks will be allowed to sell unaffordable and expensive credit to people.

Our global economy is at its most precarious position since the Great Depression. Now is not the time to remove consumer protections and trap people in deeper household debt. The problems people face are about not enough income. More debt makes things worse. This policy is bad for Australian households and bad for the Australian economy. 

The Banking Royal Commission revealed the impact that unconstrained lending has on Australians. The Commission heard of the Commonwealth Bank providing a problem gambler with $35,000 in unsolicited credit card increases, despite the person telling the bank that he had an addiction and to cut off his supply of credit. Commissioner Hayne recommended no changes to the responsible lending laws: “My conclusions about issues relating to the NCCP Act can be summed up as 'apply the law as it stands'.” 

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