Written Questions (re Credit Cards)

Snapshot of Question 5:

Do any/some of the Nine Examples represent Predatory Advertising or Unconscionable Conduct as defined by the ACCC?

Question 5

Will the Federal Treasurer request the relevant Regulator/s to -

(i)         examine the information in advertisements for Credit Cards (explained in the Nine Examples within Labyrinth of ‘Concealed Spiders’) with particular regard to obligations under the National Consumer Credit Protection Amendment (Home Loans and Credit Cards) Act 2011, to determine if any represent Predatory Advertising or Unconscionable Conduct (based in the ACCC's description of (Unconscionable Conduct); and

(ii)        impose monetary penalties if either of the above offences are found to have occurred.

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