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The stories may be strange, but they're true
ABC12.com, MI - He's charged with forgery and identity theft. Authorities say he's been using Angel's name since about 1997. BERLIN, Vt. (AP) – Lucky thing for a Vermont … |
STRONGER safeguards are needed to protect vulnerable people from signing credit contracts they have little hope of understanding, a new report by the Brotherhood of St Laurence has found.
Banks, credit co-operatives and fringe lenders should be legally required to provide a plain English summary of contracts to help better understanding, it says.
The in-depth study of 30 low-income borrowers who had recently signed credit contracts showed Australia’s reliance on full disclosure of contract terms to protect consumers was not working. Contracts were too long and the language used was too difficult, legalistic and obscure for many to understand.
The Australian economy is heading for a tough year in 2009, with policymakers hoping interest rates cuts and recent fiscal stimulus will help prevent a recession.
Gloomy forecasts for global economic growth, further slides in resource prices and a rising jobless rate bode ill for the economy.
Economists still forecast positive economic growth in Australia for 2009 – albeit at the slowest pace since the 1991 recession, excluding the introduction of the goods and services tax in 2000.
Few subjects elicit more emotive debate than house prices. And rightly so given that the average Australian family has 60-70 percent of all their wealth in the world invested in their home. Understanding whether house prices are moving up, down or sideways is of vital importance to us all.
Yet as the co-producer of one of Australia’s most well-referenced house price indices, I have been amazed at the number of times individuals have expressed disbelief at the remarkable resilience displayed by the median Australian house price during the last 12 months.
A 50-year-old Ashfield man has been arrested on suspicion of involvement in a complex identity fraud scheme.