Issue Date:  -  Friday, 12 May 2000

Credit fines find good homes

More than $178,000 in fines imposed on two credit providers by the Ministry of Fair Trading, has been dispersed to community groups.

Beneficiaries of the windfall were the cash strapped Consumer Credit Legal Service ($112,778); Financial Counsellors Association of WA ($37,153) and the Geraldton Resource Centre ($28,169).

"Three very worthy organisations will benefit from these penalties imposed by the Commercial Tribunal", Fair Trading Commissioner Patrick Walker said today.

Under the terms of the orders handed down, the money was to be distributed to non-profit organisations for use in providing education, advice and assistance in credit related matters. The Commissioner convened a panel comprising of representatives from the Legal Aid Commission and the Department of Family & Children's Services, which arrived at the decision to distribute the funds.

Mr Walker said "The panel considered particular expertise and demonstrated capacity of applicant organisations for the money, resulting in the funds being provided in such as way that both country and metropolitan communities could benefit".

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Mike Winchester
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