Credit Law: Responsible Lending Update
How has the market downturn impacted responsible lending obligations? How have banks and lenders grappled with the sudden influx of requests from businesses and consumers? How have the regulators responded? Join Steven Klimt to uncover the grey areas of responsible lending, explore the impact of the ‘Wagyu and Shiraz’ decision, and get the concise information you need to stay on top of your obligations in 2020.
Description
Attend and earn 1 CPD unit in Substantive Law
This program is applicable to practitioners from all States & Territories
Chair: Chalisa Parekowhai, Associate Director Policy, Australian Finance Industry Association
Responsible Lending Critical Update
- The courts, ASIC and AFCA’s approaches to responsible lending
- The impact of the Full Federal Court dismissing ASIC's appeal against the 'Wagyu and Shiraz' decision
- Clarifying the regulatory approach to lending in 2020: impacted circumstances, loan settlements and repayment deferrals, electronic transactions and exemptions
- Practical tips for applying the responsible lending laws
- Understanding what documents and evidence is required
- What is benchmarking? How are creditors using it? How can I challenge the use of benchmarks?
- Other strategies for dealing with responsible and irresponsible lending scenarios
Presented by Steven Klimt, Partner, Clayton Utz; consulting editor & contributing author, CCH Australian Consumer Credit Law Reporter; co-author, retail banking chapter, The Essential Guide to Financial Services Reform, CCH/Clayton Utz and Jeff Cabarrus, Solicitor, Clayton Utz
Presenters
Steven Klimt
Steven Klimt joined Clayton Utz in 1986. Steven's retail banking practice covers retail banking documentation, procedures, forms and systems, all legislation relevant to banking operations including the National Consumer Credit Protection legislation, the Personal Property Security legislation and reforms, anti-, money laundering legislation, FSR, FTRA, and other anti-money laundering legislation, Banking Act, the Payment Systems (Regulation) Act, Code of Banking Practice and EFT Code of Conduct. He also advises on credit cards, e-banking and smartcards including all aspects of access to bank accounts such as card access, redraw facilities, account linkage, electronic banking and BPAY. He has drafted numerous electronic banking terms and conditions, agreements for the distribution of financial products through cards and electronically and has done considerable work in relation to non-cash payment facilities such as smartcards. His clients include many of Australia's leading financial institutions. Steven is a consulting editor and contributing author to the CCH Australian Consumer Credit Law Reporter and a co-author of the retail banking chapter of the CCH/Clayton Utz Publication The Essential Guide to Financial Services Reform.
Jeff Cabarrus
Jeff is a lawyer with experience in retail banking and financial services regulation. Before commencing as a lawyer with Clayton Utz in 2018, Jeff served as the Associate to the Hon. Justice Markovic of the Federal Court of Australia.