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    ASIC helps Australian consumers understand new credit laws

    OK, I'm glad I wasn't the only one to find this legislation a bit vague - and from what you are saying it may in fact be the lack of clarity surrounding the legislation that will scare brokers and lenders into unnessecarily tightening their lending criteria, not the actual legislation itself...
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    ASIC helps Australian consumers understand new credit laws

    From an investor's perspective... OK, so after taking a look at the National Consumer Credit Protection Act, the take away message for me (as an investor) is that lenders and brokers are now responsible for ensuring that a credit contract or credit limit increase is "not unsuitable" for the...
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    ASIC helps Australian consumers understand new credit laws

    So from what I can gather, these new credit laws have been put into place to protect the "mum and dad" investors out there. However, has there been any thought given to, or any provisions set aside to cater for the more sophisticated investor - i.e. those people who treat their property...
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    ASIC helps Australian consumers understand new credit laws

    Surely not?? In what possible way could regular savings be seen as an expenditure?!!
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