Asic finds arrangements posed ‘significant risk’ of financial hardship but clothing store says it will appeal ‘racist and paternalistic decision’
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The Australian Security and Investments Commission has permanently banned the clothing store Urban Rampage from using the government’s Centrepay system to sign up mostly vulnerable Indigenous customers to “inherently inappropriate” credit arrangements that place them at risk of financial harm.
Coral Coast Distributors – which operates 10 Urban Rampage stores in regional and remote locations across Western Australia, the Northern Territory and Queensland, selling household items – can no longer sign-up customers into Centrepay credit arrangements.
Continue reading…Asic finds arrangements posed ‘significant risk’ of financial hardship but clothing store says it will appeal ‘racist and paternalistic decision’Follow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastThe Australian Security and Investments Commission has permanently banned the clothing store Urban Rampage from using the government’s Centrepay system to sign up mostly vulnerable Indigenous customers to “inherently inappropriate” credit arrangements that place them at risk of financial harm.Coral Coast Distributors – which operates 10 Urban Rampage stores in regional and remote locations across Western Australia, the Northern Territory and Queensland, selling household items – can no longer sign-up customers into Centrepay credit arrangements.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading…