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COSL Release Unjust Transactions Position Statement

Thursday, March 29, 2018 - Posted by Michael McCulloch

Recently the Credit and Investments Ombudsman ("COSL") have recently released their Position Statement regarding unjust transactions.

The Position Statement covers areas such as:

  • what is unjustness;
  • how they consider unjustness;
  • how they consider low docs loans in an unjustness complaint;
  • how they consider reverse mortgages in an unjustness complaint;
  • what are some of the factors listed under S76(2) of the NCC;
  • the information they require to consider unjustness;
  • what relief is available for an unjust Contract; and
  • interpretation

You can download a copy via our website.

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