RLC in the media: Behind Closed Doors: The Insidious Challenge of Financial Abuse
The effects of payday lending legislation changes to the National Credit Code and the Banking Code of Practice on vulnerable peoples to identify, and prevent, financial abuse.
An episode of the popular Hearsay podcast dealing with financial abuse and the government’s response through legislative changes to the National Credit Code and the Banking Code of Practice and featuring Laura Bianchi, RLC's Team Leader of the Financial Abuse team.
The episode discusses the effects of payday lending legislation changes to the National Credit Code and the Banking Code of Practice on vulnerable peoples to identify, and prevent, financial abuse. As Team Leader of the Redfern Legal Centre’s Financial Abuse Service, Laura Bianchi shares her experiences as a CLC lawyer in this space while Julian Charters offers his commercially-minded insights.
Financial abuse, also known as economic abuse, is the perpetration of abuse, often by a spouse or partner, through exerting control over the finances and financial resources of the other partner. Perpetrators of financial abuse aim to make their partner completely reliant on them financially in order to control their behaviour.
Financial abuse is known for being particularly difficult to identify as it often requires a deeper understanding of what is going on in a relationship to understand how financial decisions are being made and whether coercion is taking place. Sometimes, victim survivors themselves are not aware that they are suffering financial abuse. Those facing multiple layers of disadvantage and/or without the financial means to support themselves are often excluded from appropriate pathways of redress and support to address both the legal and non-legal needs that are common of victim survivors of financial abuse.
The Redfern Legal Centre’s Financial Abuse Service seeks to provide free legal advice and support to those experiencing financial abuse in New South Wales. Through the sponsorship of corporate partners such as AMEX Australia, RLC is given the resources to help combat financial abuse and restore financial independence to victim survivors.
Listening to the podcast requires a subscription. The transcript and curated resources are available for free here (Hearsay, 6 December 2021)