Matilda and Ulysses are a young married couple (aged 21 and 22 respectively) who live in Melbourne, Australia. They arrived as refugees in January 2020. They have no children but care for Matilda's younger brother (aged 17) who has Down syndrome, and Matilda's mother (aged 92) who needs an operation to remove shrapnel from her spinal area. They are currently renting a small two-bedroom apartment in Carnegie, but plan to buy an apartment in the future. They have no assets, other than $1000 in savings deposited with the Commonwealth Bank of Australia, and an antique bible that had been in the family for centuries. Currently the couple receives a 'NewStart' allowance (from the Commonwealth Government) totalling approximately $780 per fortnight. Their living costs are approximately $650 per fortnight including rent of $500 per fortnight. Although they can speak English, their knowledge of Australian culture is extremely limited and they lack knowledge of the banking industry, and Australian laws in general. They visited T-BANK, seeking advice about a loan of $20,000 to pay for Matilda's mother's operation. They don't have an account with T-BANK, because the Commonwealth Bank refused to provide them with a loan whilst Matilda was unemployed. T-BANK advised them to use a mortgage broker, Natalie, who recommended they obtain a loan from ReadyQik Finance Ltd because 'whilst not the lowest interest rate' they had 'the best terms and conditions'. She said that this meant that they were very understanding of the challenges borrowers faced, and would not take enforcement action against the borrowers if they failed to make the 'odd payment'. Matilda and Ulysses thanked Natalie, stating that no one else would help them. Natalie helped them to complete the loan application form because they did not understand many parts of the document, especially the part that mentioned something called the 'HEM'. Natalie told them it was a formula used to calculate their living costs, and it included things like food and entertainment expenses and alcohol. They replied that they did not drink alcohol (for religious reasons) and also lived very modestlycooked at home, and rarely went out due to taking care of Matilda's brother and mother, so Natalie said not to worry and filled in the form for them, which they then signed. Two months later they are struggling to remake their repayments when they receive a letter from T-BANK claiming that they have provided false information on their loan application form. According to the letter they under estimated their expenses and stated that Matilda earned $250 per week as a private music teacher. They deny this. Additional information According to some estimates, the poverty line in Australia for a family of similar size is $909 per fortnight. The HEM used by many lenders including TBANK calculates 'basic' lifestyle annual expenses at $32,400p.a. ReadyQik Finance is a subsidiary of T-BANK, (which is a subscriber to the Code of Banking Practice) and operates under the umbrella of TBANK's ADI licence. Previously, Natalie had been investigated by ASIC for alleged breaches of the NCCP Act, but had been cleared last year and on return to work at Readyqik Finance she was promoted to Senior Lending Officer. T-BANK was aware of this information. Natalie's whereabouts are unknown.

1.Are they customers of T-BANK?

2.Has ReadyQik Finance Ltd engaged in 'irresponsible lending'? What remedies are available to Matilda and Ulysses?