We have joined the call to oppose the proposed repeal of responsible and safe lending laws.

We oppose the National Consumer Credit Protection (Supporting Economic Recovery) Bill 2020. This proposes to repeal responsible lending laws contained in the National Consumer Credit Protection Act 2009. We are urging Senators and MPs not to support this bill because it:

• is totally adverse to the recommendations from the Banking Royal Commission

• will not enhance economic activity

• will impact adversely on small businesses as people will have less money to spend at local small businesses

• will cause harm to vulnerable Australians who will lose valuable consumer protections.