CONSUMER LAW – alleged multiple contraventions of ss 47, 128, 129, 130, 131 and 133 of the National Consumer Credit Protection Act 2009 (Cth) – six vulnerable consumers financed to purchase used motor vehicles – content of various obligations to make reasonable inquiries about a consumer’s requirements and objectives and financial situation and to take reasonable steps to verify the consumer’s financial situation – whether respondent failed to make inquiries and to verify to the standard of a reasonable lender at the time – whether inquiries and verification required analysis of declared living expenses as an integer of a consumer’s financial situation – Australian Securities and Investments Commission v Westpac Banking Corporation [2020] FCAFC 111; (2020) 277 FCR 343 distinguished – content of licensee obligations to take reasonable steps to ensure its representatives comply with the credit legislation and to ensure its representatives are adequately trained and competent to engage in credit activities authorised by a licence – obligations of a regulator in civil penalty proceedings to explicitly plead and particularise the case. WORDS AND PHRASES – reasonable inquiries – reasonable steps to verify – reasonable steps to ensure representatives comply with the credit legislation –reasonable steps to ensure representatives are adequately trained and competent. EXPERT EVIDENCE – utility of expert evidence where basis for opinions is not exposed – unexplained constructs of reasonable and prudent lender; execution framework and minimum expected practices, inter alia.
Original article available at: https://www.judgments.fedcourt.gov.au/judgments/Judgments/fca/single/2025/2025fca1086For more information, see the original judgement.
