ASIC report provides small business lenders with guidance on unfair contract terms laws

Summary

The Australian Securities and Investments Commission (ASIC) has released a report detailing changes made by the big four banks to remove unfair terms from their small business loan contracts of up to $1 million. The report, Unfair contract terms and small business loans, also provides detailed guidance to bank and non-bank small business lenders about compliance with […]

Tags: ASBFEO, Asic, Australian Small Business and Family Enterprise Ombudsman, Banks, Big Four, Kate Carnell, lender ASIC, Loan