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The federal government is again being criticised for not yet establishing two banking royal commission draft laws, including the compensation scheme of last resort (CSLR).
Just a fortnight after 15 groups banded together to lobby for change to the CSLR, consumer group CHOICE says the vast majority of people are in favour of a scheme for victims of financial misconduct.
With the compensation scheme of last resort bill to be debated on soon, 73% of consumers support a compensation scheme for victims of financial misconduct, according to a survey from Choice.
Consumer advocate group Choice wants the government to impose $1 million penalties on financial executives who break the law.
This story features AFTERPAY LIMITED, and other companies. For more info SHARE ANALYSIS: APT While the struggle continues for BNPL supremacy across three continents, the Afterpay revenue model evolves and the spectre of PayPal looms large. -How the large BNPL players are faring in Australia, UK and the US -Will it be first-mover advantage, a duopoly or an oligopoly? -Comparison between PayPal and Afterpay -Has there been a revolution in Afterpay’s revenue model? -Survey results show BNPL may be detrimental for some customers By Mark Woodruff Before leaving Australia, on a virtual tour ...