CONSUMER groups, financial counsellors and domestic violence advocates have slammed the Australian Government’s plans to remove critical protections for women experiencing economic abuse.

Chief executive officer of the Financial Rights Legal Centre, Karen Cox said current lending obligations prescribe important steps which often identify red flags in domestic and family abuse.

“These critical protections serve a vital purpose, requiring the lender to make inquiries as to the loan’s purpose, suitability and affordability,” Ms Cox said.

“Australia’s lending laws require lenders to undertake an assessment process that will often put them on notice when loans should not be approved.

“This is an important role in identifying and preventing the financial abuse of vulnerable women.”

Tania Farha, chief executive officer of Domestic Violence Victoria, said the lending laws we have in place provide a remedy for women when lenders do not undertake the required steps or ignore the red flags of economic abuse.

Carmel Franklin, chief executive officer of Care Financial Counselling said removing these laws would reduce the ability of advocates like financial counsellors and community lawyers to assist survivors with debts that they accrued during abusive relationships.

Laura Bianchi, team leader of Redfern Legal Centre’s Financial Abuse Service NSW and coordinator of the Economic Abuse Reference Group NSW, said its members had grave concerns about the impact of removing lending protections on people experiencing domestic and family violence.

“The wind back of responsible lending obligations will have dire consequences for people experiencing financial abuse. Coerced debt is a common factor preventing victim survivors from leaving a violent relationship and re-establish their lives,” Ms Bianchi said.

“It has been well documented that rates of family violence and economic abuse have risen sharply during the COVID-19 pandemic.

“Removing these critical protections at a time when so many women are more vulnerable than ever to economic abuse could have devastating results.”

BACKGROUND

On the September 25, 2020, the Federal Government announced a suite of changes to Australia’s consumer credit framework contained in the National Consumer Credit Protection Act 2009 aimed at reducing red tape for lenders as part ofthe Government’s economic recovery plans. Consumer groups and financial counsellors immediately voiced their concerns about removing these critical protections for consumers.

Exposure Draft Legislation was released for public consultation on 4 November: National Consumer Credit Protection Amendment (Supporting Economic Recovery) Bill 2020.

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FOLLOWING its visit to Juukan Gorge, the inquiry into the destruction of Indigenous heritage sites at Juukan Gorge will meet with superannuation fund HESTA and resources giant Fortescue—two stakeholders who highlight the importance of responsible engagement between the corporate sector and Traditional Owners.

Northern Australia Committee Chair Warren Entsch said corporate Australia could no longer ignore the link between its social licence to operate and responsible engagement with Indigenous Australia.

"Rio Tinto has paid a high price in reputation for its failure at Juukan Gorge," Mr Entsch said. "Other resource companies need to take note: governments, investors and the community will no longer tolerate such tragedies."

In its submission, superannuation fund HESTA emphasised the link between corporate responsibility and investment certainty. HESTA stated:

"We believe our investee companies should adopt and promote a culture which asks whether companies ‘should’ do something rather than whether they ‘can’ do something. We acknowledge that the law can sometimes lag community expectations and we expect companies to recognise this and make appropriate decisions to safeguard and enhance the value of the company over the long term."

Fortescue Metals Group, one of the leading mining companies in the Pilbara, wrote:

"Aboriginal people have occupied the Pilbara region for at least 50,000 years. The land is replete with evidence of this occupation in the form of tangible and intangible Aboriginal cultural heritage. Fortescue recognises that we are privileged to operate in this environment and we take our legal and ethical responsibilities in this regard extremely seriously."

Programs for the public hearing are available on the Committee’s website.

Public hearing details

Date: Tuesday, November 17, 2020
Time: 2pm to 4pm AEDT
Location: by video/teleconference

The hearings will be broadcast live at aph.gov.au/live.

Further details of the inquiry, including terms of reference, can be found on the Committee’s website.

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AN $18.72 million project to consolidate the CSIRO’s four Perth locations will be scrutinised in a new inquiry from the Parliament’s Public Works Committee.

The Committee aims to conduct a public and in-camera hearing for the inquiry into the Perth Precinct Project (P3) in January of 2021.

The Committee wants to hear from all individuals or organisations interested in the project. Submissions for the project will be accepted until Wednesday January 13, 2021. Submission acceptance has been extended to take into account the Christmas/New Year period. 

Note that the  the Parliamentary Standing Committee on Public Works is not involved in the tendering process, awarding of contracts or details of the proposed works. Inquiries on these matters should be addressed to the relevant Commonwealth entities.

For more information about this Committee, you can visit its website.

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THE Parliament’s Electoral Matters Committee will hold a public hearing as part of its inquiry on the future conduct of elections operating during times of emergency situations.

As part of the inquiry, the Committee will examine the short and long term impacts of unexpected, rapidly developing external events that could substantially interrupt normal voting, election administration or campaigning, including contingency plans for an increased demand in alternative voting options.

Public hearing details:

Date: Wednesday, November 18, 2020
Time: 9am to 4.50pm AEDT
Location: Committee Room 2R1 and via teleconference

Information on the inquiry, including the terms of reference, may be found on the inquiry webpage.

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