The major bank is cracking down on unlicensed debt management companies, revealing that it will no longer deal with them.
NAB has announced that it will no longer deal with unlicensed, fee-charging debt management providers in a bid to help protect customers from potentially being placed in a worse position financially and help give them confidence they are getting the best support possible.
The major banksaid this was an important step as more Australians seek financial assistance as they deal with the economic impacts of the coronavirus pandemic.
Many for-profit providers do not hold a current Australian Financial Services Licence (AFSL) or an Australian Credit Licence (ACL) from ASIC, despite often appearing to offer services that r…
Read the full article at: https://www.theadviser.com.au/breaking-news/40629-nab-stops-dealing-with-unlicensed-debt-management-providers