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	<title>National Consumer Credit Reform</title>
	<link>http://www.langes.com.au/consumercredit</link>
	<description>news about consumer credit reform and licensing</description>
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		<title>COSL Annual Report: systemic issues</title>
		<description><![CDATA[The Credit Ombudsman Service Limited (COSL) has published its 2010-2011 annual report on its operations. It identified complaints relating to financial hardship, deferred establishment fees, default listings and motor vehicle leases as systemic issues. The single largest source of complaints was financial hardship: 34% of all complaints it received related in some way to financial [...]]]></description>
		<link>http://www.langes.com.au/consumercredit/2012/02/02/cosl-annual-report-systemic-issues/</link>
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		<title>Case note: Tonto Home Loans v Tavares -liability of lender for fraudulent introducer</title>
		<description><![CDATA[There are an increasing number of legal actions relating to enforcement of loans where the conduct of intermediaries (eg brokers, loan originators and managers), who have been interposed between the lender and borrower, is relevant. In Tonto Home Loans Australia Pty Ltd v Tavares [2011] NSWCA 389 (heard together with FirstMac Ltd v Di Benedetto; [...]]]></description>
		<link>http://www.langes.com.au/consumercredit/2012/01/23/case-note-tonto-home-loans-v-tavares-liability-of-lender-for-fraudulent-introducer/</link>
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		<title>CBA changes comparison rates</title>
		<description><![CDATA[ASIC has announced that the Commonwealth Bank of Australia (CBA) has agreed to change advertised comparison rates for its Wealth Package loans in response to ASIC concerns the comparison rates used in ads were incorrect and potentially misleading. ASIC was concerned CBA’s home loan ads promoting its Wealth Package loans did not include the Wealth [...]]]></description>
		<link>http://www.langes.com.au/consumercredit/2012/01/16/cba-changes-comparison-rates/</link>
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		<title>Updated NCCP Act and Regulations</title>
		<description><![CDATA[Comlaw has published an updated National Credit Act and Regulations (as at 1 January 2012). The National Consumer Credit Protection Act 2009 incorporates the home loan key facts sheet provisions of the National Consumer Credit Protection Amendment (Home Loans and Credit Cards) Act 2011 but not the credit card provisions. The National Consumer Credit Protection [...]]]></description>
		<link>http://www.langes.com.au/consumercredit/2012/01/16/updated-nccp-act-and-regulations/</link>
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		<title>Reminder: Responsible Manager seminars February 2012</title>
		<description><![CDATA[Our Responsible Manager seminars will be held in Brisbane, Sydney, Melbourne and Adelaide in February. Topics have been selected for their relevance for Responsible Managers. It is a practical guide to the most recent changes and topical issues affecting financial services and credit licensees, including latest cases, legislation, regulatory developments and other tips on how [...]]]></description>
		<link>http://www.langes.com.au/consumercredit/2012/01/12/reminder-responsible-manager-seminars-february-2012/</link>
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		<title>Price signalling and credit</title>
		<description><![CDATA[Compliance with other relevant laws is a core credit licence obligation under Section 47(1)(d) of the NCCP Act. From 6 June 2012 ADI&#8217;s which do not comply with the new price signalling laws in the Competition and Consumer Act in relation to their credit activities will not only risk a fine of up to $10 [...]]]></description>
		<link>http://www.langes.com.au/consumercredit/2012/01/09/price-signalling-and-credit/</link>
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		<title>Revised ASIC home loan training requirements for credit providers</title>
		<description><![CDATA[ASIC has released a revised version of Regulatory Guide 206 with a modified policy on representative training for credit providers that provide home loans. The main change to RG 206 is to replace the term ‘mortgage broking services’ with the term ‘home loan credit assistance’, (which ASIC defines as credit assistance in relation to a [...]]]></description>
		<link>http://www.langes.com.au/consumercredit/2011/12/28/revised-asic-home-loan-training-requirements-for-credit-providers/</link>
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		<title>ASIC relief for rural financial counselling services and money management services</title>
		<description><![CDATA[ASIC has exempted rural financial counselling and money management service providers from licensing requirements for providing credit assistance under the National Credit Act: [CO 11/926]. Money management service providers who give financial advice about basic deposit products in the course of providing a money management service have also been granted limited relief [CO 11/927] from [...]]]></description>
		<link>http://www.langes.com.au/consumercredit/2011/12/21/asic-relief-for-rural-financial-counselling-services-and-money-management-services/</link>
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		<title>Penalty fees class action expands</title>
		<description><![CDATA[The solicitors conducting the class action against ANZ have announced that actions will be commenced against the Commonwealth Bank, Westpac, National Australia Bank and Citibank in relation to credit card late payment fees. The claims are on behalf of 45,000 customers of Commonwealth Bank, 30,000 customers of Westpac, 30,000 customers of NAB, and 10,000 customers [...]]]></description>
		<link>http://www.langes.com.au/consumercredit/2011/12/19/penalty-fees-class-action-expands/</link>
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		<title>Langes Responsible Manager seminars: February 2012.</title>
		<description><![CDATA[Langes are pleased to announce our Responsible Manager seminars in February 2012. These seminars for AFS and ACL licencees cover current hot topics and a general update on things you must get right. The seminars delve in depth into all the ‘must-know’ rules and traps for each topic. Topics are selected for their relevance for [...]]]></description>
		<link>http://www.langes.com.au/consumercredit/2011/12/14/langes-responsible-manager-seminars-february-2012/</link>
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