Settlement Letters: New Requirements After ASIC Enforcement of Small Personal Loans - BigTechOro
Following ASIC’s enforcement efforts, Australia now has new settlement letter requirements for small personal loans. The revisions aim to increase consumer protections and ensure lenders deli...

Source: BigTechOro
Following ASIC’s enforcement efforts, Australia now has new settlement letter requirements for small personal loans. The revisions aim to increase consumer protections and ensure lenders deliver clear, open information to borrowers. ASIC’s Report 805, released in March 2025, showed extensive compliance lapses and methods meant to overcome protections, based on an investigation of five large …