Regulatory Alerts2025-11-11
ASIC drives car finance providers to improve consumer outcomes
The Australian Securities and Investments Commission (ASIC) has issued tailored action letters to major motor vehicle lenders following a review that exposed problematic sales tactics and excessive loan establishment costs. The regulator requires participating institutions to enhance oversight of distribution channels, strengthen risk frameworks, and improve governance to prevent the provision of unaffordable credit. ASIC emphasized that it will pursue enforcement actions where necessary to protect consumers, with detailed findings scheduled for release in 2026.
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