Financial services group FlexiGroup (ASX:FXL) has responded to the Senate Inquiry into credit and financial services saying they strongly support the implementation of the Small Amount Credit Contract (SACC) and Consumer Lease reforms.
These were recommended by the Government Panel.
They also support the observations and findings in ASIC’s report in relation to areas of better practice and improving the Buy Now Pay Later sector standards to support consumer access to appropriate credit.
They also support self-regulation in the form of a tailored BNPL code of practice.
Shares in FlexiGroup (ASX:FXL) are trading 1.77 per cent lower at $1.39.