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Responsible Lending and Borrowing Summit

Beyond legislation

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overview

Following the announcement in September 2020, by Treasurer Josh Frydenberg that responsible lending laws had led to “restrictive lending” and needed to change to get more money into the economy we anticipate changes but as the industry waits to see which way the road turns on Responsible Lending we will open dialogue on how the industry can respond to insure we have better consumer outcomes whether the legislation is there or not. As the responsible lending legislation becomes another victim of the pandemic we ask ‘What will the right formula be in 2021 to ensure financial institutions are able to lend responsibly and consumers borrow with the confidence they need’?

Join us as we open dialogue on this significant ongoing debate.

speakers

The Honourable Michael Sukkar MP

Assistant Treasurer

Professor Kevin Davis

Panel Member, 2014 Financial System Inquiry & The University of Melbourne

Michael Saadat

Senior Director, Public Policy & Regulatory Affairs, Afterpay

Gerard Brody

CEO, consumer Action Law Centre

David Hyman

CEO, Lendi

Lisa Schutz

CEO, Verifier & Member, Consumer Data Right Committee

Karl Turner

Chief Operating Officer, AFIA

Chalisa Parekowhai

Associate Director Policy, AFIA

Fiona Guthrie AM

CEO, Financial Counselling Australia

Elise Ivory

Partner, Dentons

Andrea Beatty

Partner, Piper Alderman

Chris Ellis

CEO, Finder.com.au

Mike Felton

CEO, MFAA

Patrick Dwyer

Legal Director, Dwyer Harris

Charlotte Henry

Partner, Herbert Smith Freehills

Dr Gregory Mowle

Lecturer, The University of Canberra

Christine Cupitt

Executive Director - Policy, Australian Banking Association

Samantha Carroll

Counsel, Ashurst

Cris Parker

Head, Ethics Alliance & Director, Banking & Finance Oath

Karen Cox

CEO, Financial Rights Centre

Susan Mitchell

Chief Executive Officer, Mortgage Choice

Daniel Oh

Group Legal Counsel, Connective Broker Services

Leigh Mellor

Managing Director, The Risk Board

Chris Whitehead

CEO, FINSIA

Peter McNamara

CEO, South East Community Links (SECL) & President, The Australian Council of Social Service (ACOSS)

Jaime Lumsden

Solicitor Director, The Fold Legal

Narelle Smythe

Partner, Clayton Utz

Christine Hilder

Special Counsel, Clayton Utz

Julian Fenwick

Managing Director, GRC Solutions & Chair, RegTech Association

Hong-Viet Nguyen

Partner, HWL Ebsworth

John Weaver

Partner, Deloitte

agenda

9:00 am

OPENING | Opening remarks from the Opening Chair

Samantha Carroll, Counsel, Ashurst

9:05 am

TREASURY ADDRESS|

The Honourable Michael Sukkar MP, Assistant Treasurer

9:35 am

This panel will discuss the pending changes to legislation around responsible lending and subject to outcomes we will discuss how the industry will respond, how it will affect consumers and why culture is more important than ever.

ON THE HORIZON

10:15 am

Lendi has spent the last decade building a highly successful platform and with the planned merger with Aussie we will see the platform power the Aussie network and supercharge their role as influencers, creating better customer experiences whilst ensuring the tech is both auditable and scalable. David will discuss his vision for the role technology will play in empowering brokers and consumers alike whilst enabling brokers to manage regulatory change.

10:40 am

Networking and refreshment break

11:05 am

Remarks from the Chair

Leigh Mellor, Managing Director, The Risk Board

11:10 am

AFIA and its BNPL members have come together with a world first Code of Practice for the BNPL sector. AFIA will deliver some insights on how they have arrived at this important point for the fast-rising sector.

The draft Code is in direct response to ASIC’s review of the BNPL sector (ASIC Report 600) and an inquiry conducted by the Senate Economics Reference Committee, which recommended the development of a BNPL Code of Practice. AFIA aims to have the Code operating by 1 March 2021

11:30 am

What are the statistics pointing to and what more can be done to educate and empower consumers to take more responsibility when it comes to buy now pay later services? Will regulating ensure better consumer outcomes in this thriving sector?

12:10 pm

Data is enabling financial institutions to make better lending decisions but where does responsibility lay with loan suitability for a consumer? – How do we arrive at frictionless and fair?

12:35 pm

Chris will talk us through why raising standards of conduct and competence in the industry will lead to a responsible lending culture, enabling consumers to achieve better outcomes.

1:00 pm

Lunch

CONSUMERS IN A BRAVE NEW WORLD

1:40 pm

Banking update

Christine Cupitt, Executive Director - Policy, Australian Banking Association

2:00 pm

If responsible lending obligations are removed what other avenues are available for consumers to pursue who are seeking compensation. For example under the National Credit Code, a contract may be found to be unjust if, when the contract was entered into, the credit provider knew, or could have ascertained by reasonable enquiry at the time, that the debtor could not pay in accordance with its terms, or not without substantial hardship.

Patrick will provide some legal insights into these alternatives via AFCA and open discussion with panel.

2:50 pm

Post the Royal Commission it was evident that further investment in financial literacy and now with the greater digitisation coupled with the effects of a global pandemic it is now more important than ever to educate and empower consumers who are not as savvy with technology. How do we fast track lending and ensure suitability at the same time?

3:30 pm

Closing remarks day 1 from the Chair

pricing

Packages Price
2021 On-Demand Access$395+GST

On-Demand Playback

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when & where

01 Mar 2022

Event is now available On-Demand

contact

Still have a question?

Veronique Henrisson
Conference Producer
+61 (02) 9080 4054
Veronique.Henrisson@informa.com

Andrew Sinkovich
Sponsorship Manager
+61 (02) 9080 4008
Andrew.Sinkovich@informa.com

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