Thanks for fleshing out the detail behind those allegations by...

Thanks for fleshing out the detail behind those allegations by ASIC. My career was from a previous era of lending where there was no discrimination against Centrelink pensioners or anybody for that matter. Quite a few of the loans I saw processed in those times were with Centrelink income clients and the arrears during my time as collection manager stood at <1% 30 days. They generally paid the same as everybody else. Banks, Homestart and most of the short term unlisted lenders also engage with Centrelink income recipients. This designation should not be seen as a sole reason for rejecting loan applications IMO. Maybe SVR are the first of a long line of lenders to go under the magnifying glass or they have been chosen to point out that ASIC is actually beginning to do its job. If it is proven under the new standards then it is my opinion that the hammer will fall across a wide spectrum of lenders virtually from the top down if they look hard enough based on what I am reading now. I would also point out that often some of the hardship cases proved to have told porkies on their applications which were backed up by prior arranged external sources and I wonder if ASIC is up to the forensics required to establish exactly why it happened. This company has been around since the GFC with arrears and writeoffs which seem to be about the norm or better for this type of lender and I would have thought that this would indicate that they are toeing the same line as everybody else. Anyway Tekvest we will both see how it pans out when tested by law.