> Download Submission to the Credit-related Disclosure and Rebate Regulations (PDF, 362KB)
The Salvation Army submits that this information will likely help some consumers compare different products. We have stated “some” because a lot of the clients with credit-related issues that we work with are often desperate and going through highly pressured times when assessing their credit options.
The information could be up-to-date and very helpful in allowing the consumer to compare credit products, but for desperate people facing desperate circumstances, more information will, in our experience, not lead to “shopping around”, as these people often quickly take whatever credit they can get. These MBIE proposals are positive, but the reality is that information alone will not lead to better informed credit-decision making by some consumers.