Lake Ainsworth: Red AlertKeep Out of the Water Time to close lending loopholes on buy now, pay later

Key stakeholders call for buy now, pay later should be regulated as meantime credit

In submissions released publicly by the Treasury today, major banks, industry associations, regulators and consumer advocates are unified in calling for an end to lending loopholes allowing buy now, pay later providers to avoid safe lending laws. Groups who made submissions calling for the appropriate regulation of buy now, pay later loans under the National Consumer Credit Protection Act include:

• ANZ

By J. WILLOW

The council is also conducting regular testing of the lake’s water quality and health. If the testing shows a decrease in algae levels, the Red Alert will be removed. Lake Ainsworth is a popular spot for swimming, fishing and recreational activities.

The lake is a beautiful sight and is home to a wide variety of aquatic life. The council is warning visitors to stay away from the water and not to swim, wade or use the lake for primary recreation. They are also asking visitors to obey all signage, avoid algae ‘slicks and scums’ and report any suspicious activity to the council. The Ballina Shire Council is taking this matter seriously and has issued a Red Alert for Lake Ainsworth. They are conducting regular testing to ensure the safety of the lake and its users, and ask that visitors obey all signage and avoid swimming in the lake.

Free solar - savings up to $600 on electricity bills

The NSW Government is ofering a new way to assist people on low incomes with their power bills by installing free solar systems for eligible households in place of their Low Income Household Rebate. This program aims to improve energy afordability by helping households unlock long terms savings on their electricity bills. While this means you will no longer receive the $285 annual rebate on your electricity bill, you could receive up to $600 in savings per year from your new solar system!

The ofer is only available to households that live in the specifed regions and meet the eligibility criteria. When participating in this program households will receive a free, fully installed 3kW solar system in place of their Low Income Household Rebate.

SAE Group are the approved provider, designing and installing solar systems to eligible homes in your region.

To be eligible you must:

- Currently be receiving the Low Income Household Rebate

- Agree not to receive the rebate for ten years

- Own your own home

- Not already have a solar PV system

- Hold a valid Pensioner Concession Card or a Department of Veteran Afairs

Gold Card

If you are not the registered homeowner, but your spouse is, you may be considered eligible collectively as a household

A 3kW system is designed to generate an average of 12.6kwh per day, which will deliver electricity savings depending on each household’s energy consumption. Managing Director of SAE Group Glen Ashton comments “We know electricity bills continue to place a lot of pressure on households, and we are pleased to be working with the NSW Government to help ease the pressure on low income households.”

SAE Group are an Australian owned and operated organisation with over ten years’ experience in the solar industry. SAE Group are a Clean Energy Council Approved Retailer, and hold accreditations ISO 9001, ISO 45001 for safety and quality systems. Safety is paramount to us, and it our goal to ensure we provide quality solar systems to eligible households that will deliver ongoing savings for many years to come.

Want to fnd out more?

Visit: https://energysaver.nsw.gov.au/solar-low-income-households to check your eligibility and apply online or visit www.saegroup.com.au or call us on 02 66 389 439. The Solar for Low Income Household Ofer is supported by the NSW Government.

22 consumer groups, community legal centres and financial counselling bodies

The proposed reforms will require companies such as Afterpay, Zip and Humm to comply with common-sense and well-established consumer protections, in line with other credit products such as credit cards and personal loans.

Financial Counselling Australia CEO, Fiona Guthrie pressures rise, it is even more important that people are protected from rogue lenders.”

Financial Rights Legal Centre CEO, Karen Cox

“A broad sweep of stakeholders agree that BNPL needs to be fully regulated as credit. The Government must act to close this regulatory loophole now and make sure the same guardrails apply to BNPL as apply to other types of personal credit.”

• Westpac

• Customer Owned Banking Association

• Australian Retail Credit Association

• Mortgage and Finance Association of Australia.

• Australian Securities and Investment Commission

• CPA Australia

• National Legal Aid

• More than

“We’ll only get one chance to get the regulation of BNPL right. And this is it. As the Banking Royal Commission showed in spades, loopholes in the law are disasters. BNPL is credit. It should be regulated like all other credit products.”

CHOICE CEO, Alan Kirkland

“With some buy now, pay later providers lending up to $30,000, it’s unfair and unsafe to allow them to avoid safe lending laws. They need to operate on a level playing field with credit cards and personal loans. As cost of living

Consumer Action Law Centre CEO, Stephanie Tonkin

“The cost-of-living crisis means people are falling into debt traps faster than ever, and having easy access to multiple BNPL products just adds to the pressure and financial distress we hear about on our helplines every day. Unsolicited credit increases are already banned for credit cards, so we are calling for a level playing field, treating all consumer credit products like BNPL the same. People need real safeguards and consistency.”

“Leemo has views on just about anything”

It’s ‘Leemo Cat’ back. I’m fummoxed to-day. My ‘magnifcent & active thinking’ feline brain has much stuff whirling around in it. I’m at a loss about what to write about. Even felines with the most outstanding rhetorical talents (per se, myself) get a thing called ‘Writer’s Block.’ (I thought this was a just block of wood used for writing on ‘til ‘Mum Jane’ explained otherwise.) I’ll have to ask her about my quandary. ‘Mum, desist from making Mustard Pickles and come in here please. I need your input NOW!’

(CRIKEY, she actually did!!) ‘What’s up my Lil Buddie, how may I be of support to you?’ I explained, ‘MUM, I HAVE WRITER’S BLOCK and I don’t know what to do.

Can you help ‘cos I have to do my story.’ She pondered. ‘Oh, for God’s sake Mum, get on with it!’ ‘OK Leems, which of the 6 forms of Writer’s Block ails you?’ (SIX!! OMG, I’d forgotten!) Leems, is it number “1” meaning you are writing absolute crapp, you know it, and have fear of exposure from your lovely readers for being so humdrum. Maybe number “2” meaning you strive for perfection but forget this is only a frst draft and you can go back and make changes.

(OMG, THAT MUST BE IT…I AM a perfectionist.. hmmm!!) (Oh yes, Mum had to drone on.) OR, Leems, it could be 3 or 4 perhaps?

“3” means you have problems with your work, and “4” means you have absolutely NO ideas in your head. Well, whaddya reckon Lil Buddie?’ (WHAT I RECKON is I wish I’d never asked her in the frst place, cos she continued.) ‘OR, Leems, it could be 5 or 6 even. “5” means you can’t get in the ZONE and “6” means you are getting far too many distractions. Think about it whilst I go check my Pickles..OK?’ I am fabbergasted she can think of her poxy pickle making at a time of huge catastrophe in my life. ‘OK Mum, come back, I’ve thought about it. There is no way that numbers 1, 3, 4, 5 or 6 apply to my writing, so the issue must be my quest for perfection. Perhaps if I were to receive a small treat, have a 1 hour meditative rest on the grass, then watch an Episode of Bluey, I will be able to re-group my thoughts, and my story will all fall into its normal excellent readworthy format?’ Mum pondered, then asked me ‘What are you writing about anyhow Leems, do tell, I’m most intrigued?’ Noooo yuk…I had hoped she wouldn’t ask, but noting the wrinkled dried raisin frowny cross countenance, knew I had to answer. ‘Eeerrr, ummm, my most adored Mother, I’m writing about your dumb Pickle & Jam making obsession of late. It concerns me. You’re becoming a most (more) boring old woman. What about ME? Our games on the grass, brushes, lullabys, Feathers on a Stick? OH NO, not happening, you just stand in front of our stove going stir stir stir as if I don’t exist. Then you’re tired and go to bed early. You haven’t taken a stunning photo of me for 2 whole days. AND, you know I hate Pickles & Jam so why bother?’ I DID get a response. ‘Leems, there is a ‘Writing & Manners’ course for Felines at the Lovely Lucinda’s Cat Shelter. Perhaps you would like to attend?’ Ooopsie. Time to gather Plush Blue Blankie, treats, & up to the eaves. Nite, Leemo with ¼ purr.