From asic.gov.au: ASIC’s review of the consumer lease industry revealed customer harm and potential breaches of consumer protection laws, with nearly 25% of leases in arrears despite significant market contraction following recent reforms.

Many providers are shifting towards alternative credit products, leading to concerns about compliance with new obligations, including the protection of vulnerable consumers.

Enforcement actions, such as proceedings against Walker Stores for alleged overcharging and inflated pricing, illustrate ASIC’s commitment to monitoring compliance and protecting consumers in this sector.