APACS Response to 'Irresponsible Lending? A Case Study of a Credit Industry Reform Initiative'

摘要

In summary, the reasons the RLI initiative failed were simple:rn1.it was a not a very good or practical idea;rn2.it was promoted at high cost;rn3.the industry was not confident that the RLI's proposers could deliver what they were proposing; andrn4.it competed unsuccessfully with a wide range of other, more beneficial initiatives that the industry chose to pursue instead.rnIn fact, contrary to some of the statements in the paper, the feedback to APACS was that not only did the credit card issuers and the wider banks have reservations about the initiative, but also ultimately so did the consumer bodies and the politicians who had been engaged.