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11 August 2020
AFIA focuses on the importance of the appropriate application of ASIC’s proposed use of its product intervention power to continuing credit contracts, ensuring it is applied to address the “concerning conduct” identified that limits the total fees that can be charged, and not in a manner that would potentially limit continuing credit contract models that are beneficial to consumers, and have not been identified by ASIC as resulting in, or likely to result in significant detriment.
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